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CPP Investments, Dream Industrial REIT, and Dream Asset Management Corporation Form $3 Billion Joint Venture for Canadian Industrial Assets
Transaction Highlights CPP Investments, Dream Industrial and Dream Asset Management Corpo...
About this update from Dream Unlimited Corp. Class A
[{"type":"text","content":"CPP Investments, Dream Industrial REIT, and Dream Asset Management Corporation Form $3 Billion Joint Venture for Canadian Industrial Assets\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwlistsquare { list-style-type: square }\n.bwuline { text-decoration: underline }\n \n\n\n\n\n Transaction Highlights\n \n\n\n\n CPP Investments, Dream Industrial and Dream Asset Management Corporation form new Canadian industrial Joint Venture, with $1.1 billion of allocated equity capital\n \n\n The Joint Venture is expected to have approximately $3 billion of acquisition capacity, including leverage, and will target last-mile industrial assets in major Canadian markets\n \n\n The Joint Venture has agreed to acquire a 3.6 million square foot Initial Portfolio from Dream Industrial REIT for over $800 million\n \n\n\n\n\n\n Canada Pension Plan Investment Board (“CPP Investments”)\n \n ,\n \n Dream Industrial Real Estate Investment Trust (TSX: DIR.UN) (“Dream Industrial”), and Dream Asset Management Corporation (“Dream”)\n \n (collectively, the “Partners”) today announced the formation of a joint venture (the “Joint Venture”) to acquire last-mile industrial properties in major markets across Canada.\n \n\n This press release features multimedia. View the full release here:\n \n https://www.businesswire.com/news/home/20251216173765/en/\n \n\n\n\n\n\n The Partners have allocated $1.1 billion of equity capital, including $1.0 billion from CPP Investments (90%) and $0.1 billion from Dream Industrial (10%), allowing for the expected acquisition of approximately $3.0 billion of industrial assets strategically located in Canada’s major markets, offering excellent connectivity to population clusters and arterial transport routes.\n \n\n A subsidiary of Dream will be the asset manager for the Joint Venture and a subsidiary of Dream Industrial will provide property management and leasing services.\n \n\n As part of this Joint Venture, the Partners have agreed to acquire a portfolio of 12 Canadian industrial assets totaling 3.6 million square feet across Ontario, Quebec, and Alberta (the “Initial Portfolio”) from Dream Industrial. The Joint Venture is acquiring the Initial Portfolio for a purchase price of $805 million.\n \n\n\n “The Cana...