Dream Industrial REIT completes C$177.5 million secondary offering

On May 4, 2023, Dream Industrial REIT (“DIR”) announced that DIR and Dream Office REIT (“DOR”) entered into an agreement with a syndicate of underwriters led by TD Securities, Scotia Capital and RBC Capital Markets pursuant to which the underwriters agreed to purchase from DOR, on a bought deal basis, 12,500,000 units of DIR at a price of C$14.20 per unit and offer them to the public for total gross proceeds of C$177.5 million.

The secondary offering closed on May 16, 2023.

The units were offered by way of a shelf prospectus supplement to the DIR base shelf prospectus dated November 26, 2021, filed on May 8, 2023 with the securities commissions and other similar regulatory authorities in each of the provinces of Canada.

Further information can be found on Globe Newswire’s website.

DIR is an unincorporated, open-ended real estate investment trust. As of March 31, 2023, Dream Industrial REIT owns, manages and operates a portfolio of 321 assets totaling approximately 70.4 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S.

DOR owns well-located, high-quality central business district office properties in major urban centres across Canada, with a focus on downtown Toronto, Canada.