Dream Office REIT Announces Sale of 212 King Street West

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[{"type":"text","content":"Dream Office REIT Announces Sale of 212 King Street West\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n This news release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release.\n \n\n\n\n\n\n DREAM OFFICE REAL ESTATE INVESTMENT TRUST (D.UN-TSX) or (“Dream Office REIT”, the “Trust” or “we”)\n \n today announced the sale of 212 King Street West, a 73,000 square foot property located in Toronto, Ontario. Gross proceeds are expected to be $39.5 million, approximately $541 per square foot, which is consistent with the Trust’s carrying value as at December 31, 2025.\n \n\n The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions.\n \n\n The property currently carries an $18 million mortgage at a 7.5% interest rate and the Trust intends to use the net proceeds from the sale to repay the outstanding mortgage and pay down the Trust’s revolving credit facilities.\n \n\n Subject to closing date, the sale is currently expected to be accretive to the Trust’s 2026 FFO per unit by approximately $0.05 per unit.\n \n\n The Trust was advised on the transaction by CBRE.\n \n\n\n About Dream Office REIT\n \n\n Dream Office REIT is an unincorporated, open-ended real estate investment trust. Dream Office REIT is a premier office landlord in downtown Toronto with over 4 million square feet owned and managed. We have carefully curated an investment portfolio of high-quality assets that are well located in the central financial district with convenient access to public transportation and amenities. For more information, please visit our website at\n \n www.dreamofficereit.ca\n \n .\n \n\n\n\n Non-GAAP Financial Measures and Ratios\n \n\n\n\n The Trust’s consolidated financial statements are prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”). In this press release, the Trust discusses certain non-GAAP financial measures and ratios, including FFO per unit as well as other measures discussed elsewhere in this release. These non-GAAP financial measures and ratios are not stand...

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