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HighGround Family of Restoration Brands

April 6, 2022 By Business Wire

IRVING, Texas–(BUSINESS WIRE)–HighGround Restoration Group, INC., is pleased the to announce its new name and logo. The company was initially formed in February of 2020 with the platform acquisition of Dry Force LLC, a Texas based water restoration and reconstruction leader with locations in Dallas, Houston, Austin, and San Antonio. After a successful year in 2021 of adding five best-in-market brands to create a national platform, the company launched the HighGround brand in 2022. HighGround serves as the umbrella for the entire group while each individual company retains its brand equity in the market.

Ben Balsley, HighGround’s Chief Executive Officer, stated, “Our vision is to build a company where great brands thrive and elevate to next-level performance. We will do this by serving our employees, customers, and partners and creating opportunities to leverage national scale for local execution. I couldn’t be more excited about our brand teams and HighGround platform and the growth opportunities in front of us.”

In addition to its initial investment in Dry Force, HighGround has also partnered with the following restoration brands: Cleanup & Total Restoration (CTR), Power Dry, MoreFloods, Dririte, and Northeast Power Dry. These brands represent every region of the US and HighGround is actively seeking to add brands and partner with leaders that share its focus on service and growth. If you are interested in learning more or joining the HighGround family of brands, reach out at information@highgroundnow.com or visit www.highgroundnow.com.

About HighGround:

No one’s ever prepared for the chaos that comes with water, mold, fire, or smoke damage. And some contractors only make it worse. The property owner needs help from someone who knows what they’re doing – and who genuinely cares. And that’s why our family of brands come to work every day.

HighGround brands help customers who have suffered water or fire damage by providing 24/7/365 drying and clean up services coupled with reconstruction contracting, all while engaging with the customer’s insurance company to ensure seamless claims processing. Our brands have developed a robust referral program with residential and commercial partners by offering services such as hosted education and training, reporting and analytics, and competitive incentive compensation. This comprehensive approach allows HighGround to stay top of mind with these key referral relationships.

Contacts

Brian McNeal
Email: brian.mcneal@highground.com

Global Manufacturer Armstrong Fluid Technology Helps Customers Reduce Greenhouse Gas Emissions by 2 Million Tons and Energy Use by over 2.5 Billion kWh

April 6, 2022 By Business Wire

TORONTO–(BUSINESS WIRE)–Armstrong Fluid Technology announced a bold initiative in 2018, to reduce greenhouse gas (GHG) emissions among its global customer base by 2 million tons, targeting completion by the year 2022.

The company recently announced that they had reached and surpassed that lofty goal. In the process they have also helped customers save 2.5 billion kWh of electricity usage, resulting in more than $300 million in cost savings. Achieving this goal is the equivalent of taking 600,000 cars off the road for a year, or off-setting the average annual CO2 emissions generated by 100,000 people.

“Since June 2018, when the initiative was first announced, Armstrong has worked collaboratively with our customers and partners to implement our innovative Design Envelope technology in building mechanical plants, worldwide. The application of this technology converts existing and new installations into ultra-efficient and sustainable systems,” said Todd Rief, Armstrong CEO.

“We have now boosted Design Envelope Technology with our innovative Active Performance Management architecture. This 3-layer architecture adds the power of Digital Twins, Edge and Cloud computing to intelligent Design Envelope equipment. The application of Active Performance Management brings performance resilience and transparency to system design and operations. This helps our partners and our customers extract carbon from every stage of the lifecycle of a building. They can design a much smaller plant with lower construction carbon footprint, and dramatically reduce their carbon emission from operations. All this while using predictive maintenance to preserve building performance without adding cost.

“At the same time, we recognize that the work in this area is not yet done. Buildings worldwide continue to be some of the biggest contributors of GHG. Through our core competencies of Fluid Flow, Energy Transfer, Demand Based Control and Digitalization, we aim to bring a step change to the performance of buildings through their entire lifecycle.”

To monitor the results, Armstrong launched a global validation effort in 2018 across a wide range of customer types and applications. The results were validated by Bureau Veritas, and made available as a set of case histories.

Contacts

Roger Halligan

H+A International, Inc.

312-332-4650 Ext. 22

rhalligan@h-a-intl.com

Residence at Weston Apartment Complex to Introduce 137 Net-New Affordable Units and Robust Decarbonization Plans

April 6, 2022 By Business Wire

In addition to the preservation and creation of affordable units, and decarbonization plans, Dream has also unveiled new free resident programming.

TORONTO–(BUSINESS WIRE)–Dream Unlimited Corp. “Dream Unlimited” (TSX: DRM), Dream Impact Trust “Dream Impact” (TSX: MPCT.UN) and Dream Impact Fund, collectively referred to as “Dream”, today announced it successfully secured insured financing under Canada Mortgage and Housing Corporation’s (“CMHC”) new MLI Select insurance product through TD Bank. The $153 million insured loan through TD will finance Dream’s plans to preserve and increase the number of affordable units from 52 to 189 at the Residence at Weston apartment complex – representing 40 percent of all units. The affordable units will not exceed 30 per cent of Toronto’s median renter income. Dream will also decrease energy consumption by a minimum of 15 per cent and greenhouse gas emissions by a minimum of 25 per cent.

Through collaborative engagement, Dream supported CMHC as they designed this innovative multi-unit insurance product. Launched earlier this month, MLI Select uses a points-based system that offers increasing insurance incentives based on a borrower’s commitments to social and climate related outcomes, including affordability, accessibility, and energy efficiency.

“We’re so pleased to work with Dream and TD to bring more affordable housing to Toronto. The introduction of MLI Select is another important tool that will help transform existing supply into sustainable and affordable housing across the country,” says Romy Bowers, President and CEO of CMHC.

The project financing was achievable through collaboration with TD as the lender, leveraging their experience and expertise throughout the process. This is an example of financial institutions, the federal government, and private entities working collaboratively to address pressing societal and environmental issues. The new MLI Select product will allow building owners, including asset managers and non-profits, to transform their buildings into resilient, affordable, and accessible homes working with their approved lenders.

“We are incredibly proud to have collaborated with Dream and CHMC on this forward-thinking product that helps to address the acute affordability challenges Canadians continue to face. Today’s announcement demonstrates a creative approach for increasing the supply of affordable housing here in Toronto and we hope it will inspire future sustainable and inclusive housing developments in cities and communities across the country,” says Andrew Phillips, Deputy Chair, Head of Real Estate and Diversified Industries, Investment Banking for TD.

Residence at Weston, part of the Weston Common mixed-use complex in the Weston Mount Dennis neighbourhood, is a 30-storey rental tower built in 1974 with 472 residential rental units, the Artscape community hub, West 22, an adjacent 30-storey rental building that includes 369 newly developed units, and 42,000 sq. ft. of commercial space.

Due to the insured financing, Dream has already begun converting 137 units to affordable units and has also begun retrofitting the Residence at Weston to achieve its decarbonization targets. This work includes: implementing new boilers, mechanical and plumbing systems; enhancing balcony insulation; and, installing high-performing doors and windows. At nearly 50 years old, aging apartment buildings like the Residence at Weston have long been identified as big carbon emitters and require a new way of thinking to ensure the long-term viability for residents and the environment. The retrofit is expected to take place over the next two years with minimal disruption to building residents.

“Apartment complexes like Residence at Weston require a meaningful approach to ensure they are healthy and resilient homes for generations to come. Our work at Residence at Weston serves as an example that retrofits are a critical piece of our housing stock and can preserve much-needed affordable and accessible housing while addressing climate change,” says Michael Cooper, President and Chief Responsible Officer at Dream. “The most sustainable building is one that already exists, and it’s incumbent on us all to find new ways of working with what we have and bring them up to a high level of performance.”

New programming coming to Weston Common by the Dream Community Foundation

Dream has also unveiled new programming that is beginning this month at Weston Common, with funding from the Dream Community Foundation. The creation of these new programs were informed by feedback and input from all residents. Initial programs are set to launch on-site this month, including free community fitness classes, such as kickboxing and yoga; free weekly breakfast and coffee socials; and subsidies for Toronto’s Bike Share memberships.

Later this spring, additional programming will be rolled out, including: free art classes for seniors and youth; free skills training classes, such as tax, resume-writing and language classes; and free tutoring and homework help for younger children, among others.

The programs showcase a first-of-its-kind model whereby a building owner has electively integrated a robust range of not-for-profit programming within a mixed-income community. The programs will be delivered by a dedicated Community Ambassador on-site at Weston Common as well as non-profits partners.

“These programs have been created alongside Weston Common residents who expressed a desire for a diversity of programming and strong social connections within the Weston-Mount Dennis neighbourhood,” says Krystal Koo, Chair of the Dream Community Foundation Board. “We are excited to introduce an extensive slate of year-round programs and services that can improve socio-economic, health and cultural outcomes for all residents.”

For more information and to schedule interviews, please contact publicist.

About Dream Unlimited Corp.

Founded in 1994 with a vision to revolutionize the way people live and work, Dream is one of Canada’s leading real estate companies, with over $15 billion on assets across North America and Europe. Across the Dream group platform, there is approximately 4 million square feet of GLA in retail or commercial properties and over 20,000 condominium or purpose-built rental units in our development pipeline and 9,000 acres of lands across Western Canada. Responsible for some of the country’s most iconic and transformative projects, we always invest with purpose, embracing creativity, passion and innovation, delivering strong returns, while positively impacting the communities and the world around us through our focus on impact investing.

About Dream Impact Trust

Dream Impact Trust is an open-ended trust dedicated to impact investing. Dream Impact’s underlying portfolio is comprised of exceptional real estate assets reported under two operating segments: development and recurring income, that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful track record in these areas. The objectives of Dream Impact are to create positive and lasting impacts for our stakeholders through our three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities, while generating attractive returns for investors.

About Dream Impact Fund

Dream Impact Fund LP was created in March 2021 and is one of the world’s first open-ended funds dedicated exclusively to impact investing. The Fund is managed by a vertically integrated team with significant track record in impact investments. Our impact strategy is consistent with Dream Unlimited’s three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities.

About Canada Mortgage and Housing Corporation

CMHC supports the housing market and financial system stability by providing support for Canadians in housing need, and by offering housing research and advice to all orders of Canadian government, consumers and the housing industry. For more information, follow us on Twitter, YouTube, LinkedIn, Facebook and Instagram.

About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (“TD” or the “Bank”). TD is the fifth largest bank in North America by assets and serves more than 26 million customers in three key businesses operating in a number of locations in financial centers around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America’s Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. TD also ranks among the world’s leading online financial services firms, with more than 15 million active online and mobile customers. TD had CDN$1.8 trillion in assets on January 31, 2022. The Toronto-Dominion Bank trades under the symbol “TD” on the Toronto and New York Stock Exchanges.

Contacts

MEDIA CONTACT

kg&a

Maxwell Batista

416-995-5749

maxwell.batista@kga-inc.com

Candice Leung

416-537-0954

candice.leung@kga-inc.com

Hudson’s Bay Expands Space NK Beauty Experience for Spring; Opens Three New Locations in Quebec, Alberta and Ontario Today

April 6, 2022 By Business Wire

Space NK curation offers some of the most coveted beauty brands in the world

TORONTO–(BUSINESS WIRE)–Hudson’s Bay announced today it will open three additional ‘shop-in-shop’ Space NK locations, as part of its strategy that will scale the presence of the premier British beauty brand in Canada. The shops allow customers to discover a bespoke curation of prestige and indie beauty brands spanning haircare, makeup, skincare, bath, body, and fragrance, with the full-range collection also available on TheBay.com. Calgary’s Market Mall, Quebec’s CF Carrefour Laval, and the Queen St flagship in Toronto are the latest installments, doubling Space NKs footprint at Hudson’s Bay since the retailer’s launch in Canada in August 2021.


“Space NK at the Bay is an unmatched experience—customers will discover the most sought-after brands, many of which are new to Canada, complemented by our incredible and expansive beauty assortment,” says Laura Janney, Chief Merchant at The Bay. “With our commitment to discovery, Space NK at The Bay inspires and delivers an innovative journey for our customers.”

“We are delighted to expand our partnership with Hudson Bay, to bring our beauty category expertise to their customers across Canada in an iconic department store location, allowing them to shop luxury beauty when, where and how they choose. We look forward to working with Hudson Bay as our partnership continues to develop into 2023,” says Noah Rosenblatt, President of Space NK North America.

The Bay plans to launch Space NK in additional stores leading into 2023 – with new and exciting brands added to the assortment both in-store and on TheBay.com. The current assortment features 18 premium brands, including Chantecaille, Boy Smells, Tata Harper, Sunday Riley, Dr. Dennis Gross, R+Co, Kevyn Aucoin and most recently Malin + Goetz. Space NK can be found in 6 Hudson’s Bay locations, with a further 25 haircare towers in additional doors.

ABOUT THE BAY

Through a digital-first, purpose-driven lens, The Bay helps Canadians live their best style of life. The Bay operates thebay.com featuring Marketplace, one of the largest premium life & style digital platforms in Canada, with a seamless connection to a network of 85 Hudson’s Bay stores. The Bay has established a reputation for quality and style through an unrivalled assortment of products and categories including fashion, home, beauty, food concepts and more. Follow us on our social media channels: Instagram, Facebook, Twitter, TikTok.

The Bay and Hudson’s Bay operate under the HBC brand portfolio. Founded in 1670, HBC is North America’s oldest company. The signature stripes are a registered trademark of HBC.

ABOUT SPACE NK

The go-to destination for worldwide beauty discovery, Space NK started out as a single store in Covent Garden over 25 years ago. We can now be found in 75 locations across the UK and Ireland, as well as online at spacenk.com. In our stores and on our website, you will find a finely-honed edit of the most innovative products in the beauty world, including super-charged skincare, cutting-edge cosmetics, and game-changing gadgets.

Contacts

Lauren Polyak

Sr. Manager, Public Relations

lauren.polyak@thebay.com

Tiffany Bourré

DVP, Communications & PR

tiffany.bourre@thebay.com

Jini Sanassy

Head of PR

SPACE NK

Jini.Sanassy@spacenk.com

Konfidis’ Leading Technology and Data Solution Surfaces Top Single-Family Rental Investment Opportunities Across Ontario

April 5, 2022 By Business Wire

Leveraging its cutting-edge technology, proprietary rental data, and extensive investment research, combined with boots on the ground diligence, the Konfidis solution helps individual investors easily identify, evaluate, and manage investment properties across Ontario better. With Konfidis, buy your next investment property with confidence.

TORONTO–(BUSINESS WIRE)–#datascience—Konfidis is pleased to announce the launch of its leading technology and investment platform to unlock the compelling benefits of residential real estate investment as we help individual investors answer their three key questions: “Where should I look?”, “Which property should I buy?”, and “How can I outperform the market?”

The Konfidis platform utilizes proprietary rental data to generate anticipated investment return metrics for every MLS listing and a growing set of off-market opportunities, in real-time, and layers various other technology, data, and investment attributes to surface the top investment properties across Ontario.

Konfidis investor clients receive:

  • weekly shortlists of comprehensively reviewed properties, which are accompanied by a diligence report (including data gathered from an on-site visit to the property, as well as financial analysis);
  • access to sophisticated real estate investment calculators; and
  • a turn-key post-acquisition solution, including property management, alleviating the headaches that come with owning an investment property.

Sign up today at Konfidis.com and start receiving our weekly top single-family rental investment opportunities.

“When we talk to investors big and small, they all have the same pain points. ‘Where are the best opportunities to invest?’ and once a property is found ‘How can I quickly evaluate if it’s a good buy?’ The answers to these questions can be solved using a combination of data science and technology, coupled with our belief that also physically inspecting properties, before presenting opportunities, is key to efficiently serve our clients,” said John Asher, President, and Co-Founder of Konfidis.

“Where you live is not necessarily where we may find the best opportunities, and most likely, limiting your search radius leads to suboptimal returns,” said Jared Kalish, Executive Chairman and Co-Founder of Konfidis. “We search across Ontario with the aim of selecting opportunities which we believe will outperform the market over the long run.”

Konfidis also makes a portion of its platform available for investors who seek to perform their own research. The publicly accessible version allows for visual comparisons between cities and neighbourhoods, heat maps, metrics such as historical house price appreciation and sold data, as well as anticipated income driven by Konfidis’s proprietary rental data, among other items.

In addition to being a leading real estate investment services platform, Konfidis strives to be a champion for tenants. It seeks to enhance the quality and availability of rental housing solutions for Canadian families. Konfidis enhances the professionalism of the tenant experience with technology designed to improve the efficiency of leasing, payment processing, and service call coordination.

About Konfidis

Konfidis Inc. is Canada’s leading solution for residential real estate investors. As a technology and big data-focused platform, Konfidis supports the entire investment process from opportunity identification, due diligence, and acquisition to comprehensive workflow management and broad post-acquisition management services and support.

Konfidis seeks to deliver visited and reviewed turnkey residential real estate investment opportunities to its investor clients. As a company, Konfidis is dedicated to delivering enhanced solutions for Canadian families seeking high-quality and dependable long-term rental housing alternatives as a core principle.

Contacts

John Asher, President

(416) 200-0954

john@konfidis.com

Jared Kalish, Executive Chairman

(647) 980-4661

jared@konfidis.com

Granite REIT Notice of Conference Call for First Quarter 2022 Results

April 4, 2022 By Business Wire

TORONTO–(BUSINESS WIRE)–Granite Real Estate Investment Trust (“Granite”) (TSX: GRT.UN / NYSE: GRP.U) expects to announce its financial results for the first quarter ended March 31, 2022 after the close of markets on Wednesday, May 11, 2022.

Granite will hold a conference call on Thursday, May 12, 2022 at 11:00 a.m. (ET). The toll-free number to use for this call is 1 (800) 897-4057. For international callers, please call 1 (416) 981-9014. Please dial in at least 10 minutes prior to the commencement of the call. The conference call will be chaired by Kevan Gorrie, President and Chief Executive Officer.

To hear a replay of the scheduled call, please dial 1 (800) 558-5253 (North America) or 1 (416) 626-4100 (international) and enter reservation number 22017097. The replay will be available until Monday, May 23, 2022.

ABOUT GRANITE

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 134 investment properties representing approximately 55.9 million square feet of leasable area.

OTHER INFORMATION

Copies of financial data and other publicly filed documents about Granite are available through the internet on the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at www.sedar.com and on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at www.sec.gov. For further information, please see our website at www.granitereit.com or contact Teresa Neto, Chief Financial Officer, at 647-925-7560 or Andrea Sanelli, Associate Director, Legal & Investor Services, at 647-925-7504.

Contacts

Teresa Neto, Chief Financial Officer

647-925-7560

or

Andrea Sanelli, Associate Director, Legal & Investor Services

647-925-7504

BentallGreenOak Expands U.S. Presence with New Office in Austin to Be Led by New Head of Texas Coverage, Mike Leifeste

April 4, 2022 By Business Wire

AUSTIN, Texas–(BUSINESS WIRE)–Today, BentallGreenOak (BGO) announced the opening of a new office in Austin, Texas, to be led by Mike Leifeste, the firm’s newly hired Managing Director and Head of Texas Coverage. BGO’s continued expansion in the U.S. includes a significant growth in the firm’s client base and investment management activity in the U.S. sunbelt states.


Leifeste’s responsibilities in this newly created role will include a focus on deepening BGO’s investor relations activities in the region and serving as a critical touch point on current and future acquisitions in Texas while developing new operating and developer partner relationships.

BGO, on behalf of its clients and strategies, manages over $2.3 billion in commercial real estate and land for development in Texas — over 90% of which is in modern industrial/logistics and multi-family residential. BGO expects to more than double that value over the coming years.

“Mike brings tremendous knowledge and capability to our team in a region of significant importance to our firm, and we are eager to establish our presence in the region under his strong leadership,” said John Carrafiell, co-CEO and founding member of BentallGreenOak. “We share with Mike a common culture of client-centricity and a belief in the importance of investing in local capability to bring our investor clients closer to the action.”

Leifeste joins BGO from Texas Treasury Safekeeping Trust Company (TTSTC), where he served in various capacities for the past 24 years, including most recently as Head of Real Estate and Real Assets for the past seven years. In his previous role, Leifeste was responsible for TTSTC’s 15% allocation to real assets and private equity energy investments, including a portfolio of real estate, private equity, and private credit funds that consisted of over 85 funds and more than $2 billion in commitments.

“I am pleased to be joining BentallGreenOak at an exciting and high growth period for the firm, with a clear and ambitious mandate for developing our investor and partner relationships, and a real estate portfolio that is built to respond to the economic and social aspirations of the state of Texas, now and into the future,” said Mike Leifeste, Managing Director and Head of Texas Coverage, BentallGreenOak. “BGO’s timely presence in Austin will enable us to draw on the strength of our local relationships and knowledge base to deliver outcomes that bode well for our investor-clients, our future tenants and residents, and the broader communities in which they will reside.”

Leifeste graduated from Texas A&M University with a Bachelor of Business Administration and received an MBA from Texas State University. He is a Chartered Alternative Investment Analyst (CAIA) and Chartered Financial Analyst (CFA) charterholder.

About BentallGreenOak

BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $74 billion USD of assets under management (as of December 31, 2021) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak has offices in 28 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets.

BentallGreenOak is a part of SLC Management, which is the alternatives asset management business of Sun Life.

The assets under management shown above includes real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.

For more information, please visit www.bentallgreenoak.com

Contacts

Media

Rahim Ladha

Global Head of Communications

media@bentallgreenoak.com

Primaris REIT Announces Entry into Automatic Securities Purchase Plan

April 1, 2022 By Business Wire

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) announced today that it has established an automatic securities purchase plan (“ASPP”) in respect of its previously announced normal course issuer bid (“NCIB”).

Under the terms of the NCIB, which commenced on March 9, 2022, Primaris is permitted to purchase for cancellation up to a maximum of 7,498,679 of its Series A units (“Units”) through the facilities of the TSX and Canadian alternative trading systems. Under the terms of the ASPP, the Trust’s broker will be permitted to purchase Units in accordance with certain prearranged trading parameters, during periods when Primaris would not ordinarily be active in the market because of internal trading blackout periods, insider trading rules or otherwise.

Since the commencement of the NCIB through the close of trading on March 31, 2022, the Trust has repurchased for cancellation an aggregate of 201,000 Units at a weighted average purchase price of $15.49 per Unit.

About Primaris

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in dominant enclosed shopping centres in growing markets. The portfolio totals 11.5 million square feet and is valued at approximately $3.2 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

Forward-Looking Information

Certain statements included in this news release constitute ‘‘forward-looking information’’ or “forward-looking statements” within the meaning of applicable securities laws. The words “will”, “expects”, “plans”, “estimates”, “intends” and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements made or implied in this news release include but are not limited to statements regarding the Trust’s plans, objectives, expectations and intentions with respect to the purchase of Units under the NCIB.

These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. Primaris cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Material risk factors and assumptions include those set out in Primaris’ management’s discussion and analysis and annual information form, which are available on SEDAR, and in Primaris’ other materials filed with the Canadian securities regulatory authorities from time to time. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, Primaris undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.

Contacts

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

TSX: PMZ.UN

www.primarisreit.com www.sedar.com

Category: Corporate

Strategic Storage Trust VI, Inc. Enters the Portland, Oregon Market with the Acquisition of Two Recently-Constructed Facilities

April 1, 2022 By Business Wire

LADERA RANCH, Calif.–(BUSINESS WIRE)–Strategic Storage Trust VI, Inc. (“SST VI”), a publicly-registered real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), announced today the acquisition of two recently-constructed self storage facilities in the Portland MSA. These represent the ninth and tenth acquisitions in SST VI. Since SST VI launched as a private REIT in the first quarter of 2021, the REIT has purchased approximately $124 million of self storage facilities and land parcels to be developed into self storage.

“We are extremely excited to enter the Portland market with these two fantastic newly constructed properties,” said Wayne Johnson, Chief Investment Officer of SST VI. “With our tenth acquisition in the REIT, we believe we are amassing a very high quality portfolio that we expect will create strong value for stockholders.”

Located at 4836 SE Powell Blvd, the newly constructed facility in Portland, OR is about three miles east of downtown. Opened in June of 2020, the three-story facility is composed of approximately 56,500 square feet of rental space. The facility’s 520 units are 100% climate controlled with a blend of drive-up, first-floor and elevator-access units. This location is well positioned to serve the areas of Richmond, Hawthorne, Hosford-Abernethy, Reed, Creston-Kenilworth, South Tabor and Southeast Portland and has direct frontage on the corner of SE Powell Blvd and SE 49th Ave with additional visibility from SE Foster Ave. The facility is located in a high density, mature, and moderate income area that is currently experiencing a revitalization.

The Vancouver, WA facility, which opened in February 2020, is located at 16600 SE 18th Street in the Fisher’s Landing neighborhood. It offers approximately 99,200 square feet of rental space and 1,090 units, 100% of which is interior climate controlled. This location serves the areas of Northfield, Cascade Highlands, Fisher’s Landing East, Countryside Woods and Bella Vista and has visibility SE 15th Street and SE 164th Street. The facility is surrounded by high quality retail and very dense and affluent residential communities. It also has desirable amenities including a sophisticated security system, secured and alarmed doors, gated entry, LED lighting.

About Strategic Storage Trust VI, Inc. (SST VI):

SST VI is a Maryland corporation that intends to qualify as a REIT for federal income tax purposes. SST VI’s primary investment strategy is to invest in income-producing and growth self storage facilities and related self storage real estate investments in the Unites States and Canada. As of March 31, 2022, SST VI has a portfolio of eight operating properties in the United States comprising approximately 5,190 units and 543,195 rentable square feet and joint venture interests in two development properties in Toronto, Ontario.

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop is a self-managed REIT with a fully integrated operations team of approximately 420 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of March 31, 2022, SmartStop is one of the largest self storage companies in North America, with an owned and managed portfolio of 165 properties in 19 states and Ontario, Canada and comprising approximately 112,000 units and 12.8 million rentable square feet. SmartStop and its affiliates own or manage 19 operating self storage properties in the Greater Toronto Area, which total approximately 16,200 units and 1.7 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

949-429-3331

IR@smartstop.com

Choice Properties Real Estate Investment Trust Schedules First Quarter 2022 Results Release

April 1, 2022 By Business Wire

TORONTO–(BUSINESS WIRE)–#valueforgenerations–Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (TSX: CHP.UN) announced today that it will be reporting first quarter 2022 results on Wednesday, April 27, 2022 after-market hours.

Management will host a conference call the next day on Thursday, April 28, 2022 at 9:00 AM (ET) with a simultaneous audio webcast. To access via teleconference please dial (240) 789-2714 or (888) 330-2454 and enter the event passcode: 4788974. The link to the audio webcast will be available on www.choicereit.ca/events-webcasts.

About Choice Properties Real Estate Investment Trust

Choice Properties is a leading Real Estate Investment Trust that creates enduring value through the ownership, operation and development of high-quality commercial and residential properties.

We believe that value comes from creating spaces that improve how our tenants and communities come together to live, work, and connect. We strive to understand the needs of our tenants and manage our properties to the highest standard. We aspire to develop healthy, resilient communities through our dedication to social, economic, and environmental sustainability. In everything we do, we are guided by a shared set of values grounded in Care, Ownership, Respect and Excellence.

For more information, visit Choice Properties’ website at www.choicereit.ca and Choice Properties’ issuer profile at www.sedar.com.

Contacts

Angelica Muere

Senior Manager, Marketing and Communications

T 416 628-7794

E Angelica.Muere@choicereit.ca

Majority of Canadians That Are Locked out of Homeownership Want New Options, Survey Says

April 1, 2022 By Business Wire

New survey shows appetite for a new homeownership model

TORONTO–(BUSINESS WIRE)–As home prices continue to rise in Canada, the dream of homeownership is getting further out of reach for Canadians. New data shows the undeniability as almost all Canadians believe homeownership accessibility is a problem in Canada (96%) and nine in 10 aspiring homeowners feel locked out of ever owning a home.

Results from the Home Ownership in Canada Study, which surveyed 2,000 Canadian adults, revealed nearly half (45%) of Canadians are renting their home or live with family while the other half (55%) own their home. For those renting or living with family, four in 10 (44%) have aspirations of buying a home within the next 10 years.

Rising home prices make that a challenge. The average home price in Canada rose to $816,720 in February – a 20% increase from the previous year. Since February 2020, the average home price has increased by 50% from $542,286. Saving for the recommended 20% down payment is a barrier for more than three in four aspiring homeowners.

“Rising home prices have outpaced wages, making it impossible for Canadians to get ahead. And with rising interest rates and inflation, the affordability gap is tougher than ever to close,” explained Rob Richards, co-founder and CEO of Key. “We created Key to make the dream of homeownership a reality for people. The reality is, this crisis is a complex problem that has no single silver bullet – it requires partnership and innovation to build new pathways to homeownership.”

Key launched a co-ownership model in November 2021 to help Canadians get on the property ladder sooner by removing the two biggest barriers that keep most people from owning. The tech-enabled model provides an opportunity to co-own a home to live in and build equity from day one, with a small down payment of 2.5 percent of the home’s value, and without having to take on a mortgage. Key aligns real estate investor capital with resident capital to underwrite the cost of homeownership, making it more affordable for residents.

Canadians are looking at this as a potentially attractive solution – in the survey when informed about Key’s co-ownership model, an overwhelming 90% of Canadians felt it would make homeownership more accessible. Moreover, seven in 10 Canadians believe co-ownership is a better solution than rent-to-own models for making homeownership more accessible and affordable.

“Since launching, we’ve had more than 5,000 Canadians join our waitlist that continues to grow each week,” shared Daniel Dubois, co-founder and president of Key. “In order to build a more equitable path forward for Canadians, we need private capital, supply partners and government support to shape solutions to address the growing homeownership crisis.”

To learn more about Key, visit lifeatkey.com.

About Key

Key is a Toronto-based real estate technology company founded in 2018. Key has developed the world’s first all-digital, on-demand homeownership platform. With Key’s patent-pending model, renters can become homeowners many years sooner. The model is enabled by property owners allowing owner-residents to contribute as little as 2.5% of the value of their home, without needing to qualify for a mortgage. To learn more, visit lifeatkey.com.

Survey Methodology

The survey was conducted online with 2,000 Canadians aged 18 and over from February 17 to 23, 2022. A random sample of panelists was invited to complete the survey from a set of partner panels based on the Lucid exchange platform. These partners are double opt-in survey panels, blended to manage out potential skews in the data from a single source.

The margin of error for a comparable probability-based random sample of the same size is +/- 2.%, 19 times out of 20. The data were weighted according to census data to ensure that the sample matched Canada’s population according to age, gender, educational attainment, and region. Totals may not add up to 100 due to rounding.

Contacts

Media Contact
Lisa Cimini

Edelman for Key

lisa.cimini@edelman.com

Dream Industrial REIT Provides Capital Deployment Update and Announces Green Bond Offering With Issuance of C$200 Million Senior Unsecured Debentures, Series E at an Effective Fixed Interest Rate Of 2.04%

April 1, 2022 By Business Wire

This press release constitutes a “designated news release” for the purposes of Dream Industrial REIT’s prospectus supplement dated November 30, 2021 to its short form base shelf prospectus dated November 26, 2021.

This press 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.

NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION THROUGH U.S. NEWS OR WIRE SERVICES

TORONTO–(BUSINESS WIRE)–Dream Industrial Real Estate Investment Trust (TSX: DIR.UN) (the “Trust” or the “REIT”) today provided an update on its capital deployment activity and announced the launch of a $200 million senior unsecured debenture offering at an effective fixed interest rate of 2.041% after swapping to Euros.


ACQUISITIONS UPDATE

The Trust’s pace of capital deployment remains strong as it continues to execute on its growth strategy. Since the beginning of 2022, the Trust has closed on three assets totalling 360,000 square feet and one 50-acre land site, for a total purchase price of approximately $99 million. In addition, the Trust has waived on approximately $157 million1 of acquisitions across Canada and Europe, as well as two land sites in Canada for $35 million. Moreover, the Trust has an additional $340 million of acquisitions in exclusive negotiations across Canada and Europe. The average capitalization rate on the income-producing assets that have closed or are firm or in advanced negotiations equates to 4.5%. Subject to satisfactory due diligence, the Trust expects the majority of these acquisitions to close in the first half of 2022.

  • In Canada, the Trust closed or waived on 179,000 square feet of income-producing assets located in the Greater Toronto Area (“GTA”) for $40 million. These well-located assets are in close proximity to multiple highways and have the potential to significantly enhance cash flows as the Trust sets rents on expiring leases to market. The average in-place rent at these buildings is approximately 50% below market rent, with a weighted average lease term of 3.5 years. In addition, the Trust has closed or waived on three sites totalling 80 acres in the GTA and the Balzac sub-market of Calgary for approximately $49 million. These sites are expected to support the development of one million square feet of high-quality modern logistics space in the near-to-medium term. Moreover, the Trust is in exclusive negotiations on 625,000 square feet of assets located primarily in the GTA for approximately $174 million.
  • In Europe, the Trust closed or waived on 1.3 million square feet of assets totalling €145 million ($201 million) across key markets in Germany and the Netherlands. These assets have strong potential to grow rental rates over the medium term, as well as enhance yields through the development of excess density. In addition, the Trust is in exclusive negotiations on approximately 1.5 million square feet of assets across Germany and the Netherlands for €120 million ($167 million).

“Our geographic diversity provides us with a breadth of opportunities and our on-the-ground team with deep local relationships has a proven track record to source attractive investments, allowing us to add scale at strong economics to the REIT,” said Brian Pauls, Chief Executive Officer of the Trust. “The acquisitions in our pipeline enhance our portfolio quality, add scale in our core markets and position us well to drive steady growth in diluted FFO per unit2 and NAV per unit2 over time.”

Recently completed/waived acquisitions

  • A 128,000 square foot single-tenant distribution asset located in the heart of the Randstad, in the Netherlands for €26 million ($36 million). The facility is just off the A12 motorway, providing good accessibility to nearby Rotterdam (~23 km), Utrecht (~24 km) and The Hague (~28 km). Built in 2019, the building has a clear height of 40 feet and is 100% occupied by a tenant in the food and beverage sector with a weighted average lease term (“WALT”) of 10 years. Included in the purchase price was an adjacent 2.5-acre development-ready site, which is expected to support the addition of a 90,000 square foot building. The Trust expects the incremental yield on cost from the expansion (including the cost of the land) to be over 5%.

Randstad Asset

See Figure 1, Randstad Asset

  • A 147,000 square foot single-tenant facility located between the Randstad in the Netherlands and the Rhine-Ruhr region in Germany for €19.2 million ($26 million). The asset’s proximity to the A50 and A73 motorways results in easy access to large population centres in the Netherlands and Germany. Built in 2016, the modern logistics building has a clear height of up to 40 feet and is leased to a U.S.-based global manufacturer of power equipment parts, with 9.5 years remaining on the fully indexed lease.

Nijmegen Asset

See Figure 2, Nijmegen Asset

  • A 472,000 square foot single-tenant logistics facility located near Hanover in Germany. The asset is located in close proximity to the A2 and A30 motorways and is well-suited for a logistics provider with the clear height ranging up to over 52 feet. It is currently 100% occupied by a logistics company specializing in the pet care and food industry. The Trust expects the purchase price to be €48.5 million ($67 million).

Hanover Asset

See Figure 3, Hanover Asset

  • A 119,000 square foot single-tenant logistics facility located in Bavaria, one of the strongest economic regions of Germany. The asset is located in close proximity to the A7 motorway network that provides easy connectivity to Stuttgart (~2 hours), Munich (~3 hours) and Frankfurt (~2 hours). Built in 2017, the asset has a clear height of 36 feet and is 100% occupied by a logistics company and is being acquired through a sale-leaseback transaction. The Trust expects the purchase price to be €19 million ($26 million). There are also nearly 3.2 acres of excess land included in the purchase price that are expected to add approximately 60,000 square feet of incremental gross leasable area (“GLA”) over time.

Bavaria Asset

See Figure 4, Bavaria Asset

  • A 213,000 square foot single-tenant distribution asset located in Gütersloh, Germany. The property is directly adjacent to the A2 motorway, one of Germany’s most frequented logistics routes. The property is 100% occupied by a global appliance and electronics brand with a WALT of 9 years with embedded rent steps equating to average annual contractual rental rate growth of 1.5% over the term of the lease. The Trust expects the purchase price to be approximately €17.5 million ($24 million).

Gütersloh Asset

See Figure 5, Gütersloh Asset

  • A 94,000 square foot single-tenant building located in the GTA, just north of the Queen Elizabeth Way highway, in Burlington. The asset is 100% occupied with in-place rent 44% below market. This acquisition fits the Trust’s clustering strategy to add scale in strong sub-markets which are exhibiting strong rental rate growth. The Trust expects the purchase price to be $18 million.

DEVELOPMENTS UPDATE

The Trust expects to invest over $150 million to fund development and value-add initiatives over the balance of this year.

  • The Trust is currently underway on the construction of approximately 850,000 square feet of development and intensification projects across Canada and Europe, most of which are expected to be completed over the balance of 2022. As of December 31, 2021, the Trust incurred costs totalling $33 million (including cost of land purchased for new development projects as well as associated closing costs) and estimates the remaining costs on these projects to be $104 million. Overall, the Trust expects these projects to result in an unlevered yield on cost of 6.6%.
  • The Trust intends to commence construction on its first redevelopment project in the GTA in mid-2022. The Trust currently owns a cluster of three buildings along Courtney Park Drive in Mississauga totalling 212,000 square feet. The buildings are situated on 10 acres of land located in close proximity to Highways 401 and 410, near Dixie Road in Mississauga. This is one of the strongest industrial sub-markets in the country with the average industrial availability rate well under 1%. The Trust intends to redevelop the complex into a brand-new state-of-the art logistics facility with completion expected in 2023. The Trust is evaluating the feasibility of developing a net zero carbon facility upon completion. With an overall construction cost budget of approximately $30 million, the Trust expects to achieve unlevered yield on cost of above 5%, including the current IFRS carrying value of the assets.

GTA Redevelopment

See Figure 6, GTA Redevelopment

  • The Trust has waived on a 20-acre site in the Balzac sub-market of Calgary for a purchase price of $12 million. The site has excellent connectivity to the airport as well as downtown Calgary. Combined with the Trust’s recent acquisition of a 50-acre site for $14 million in the same sub-market, the two sites can support the development of approximately 800,000 square feet of modern urban logistics product. The Trust expects unlevered yield on cost of approximately 6% on stabilization.

FINANCING UPDATE

The Trust announced today that it has priced a private placement of senior unsecured debentures (the “Offering”) consisting of C$200 million aggregate principal amount of 3.968% Senior Unsecured Debentures, Series E maturing on April 13, 2026 (the “Series E Debentures”). The Offering is the Trust’s third “green bond”, following C$650 million of issuances in 2021.

The Series E Debentures are being offered on an agency basis by a syndicate of agents led by TD Securities Inc., Scotia Capital Inc., RBC Dominion Securities Inc. and CIBC. The Series E Debentures are being offered on a private placement basis in each of the provinces of Canada in reliance upon exemptions from the prospectus requirements under applicable securities legislation.

Upon closing of the Offering, the Trust plans to convert the proceeds into Euros through cross-currency interest rate swap arrangements, which is expected to result in an effective fixed interest rate of 2.041%. The closing of the Offering is expected to take place on April 13, 2022.

The Series E Debentures will be issued at a price equal to $1,000 per $1,000 principal amount and bear interest at a rate of 3.968% per annum and will mature on April 13, 2026. Interest is payable on the Series E Debentures on April 13 and October 13 of each year commencing on October 13, 2022. The Series E Debentures will be direct senior unsecured obligations of the Trust and will rank equally and rateably with all other unsecured and unsubordinated indebtedness of the Trust, except to the extent prescribed by law.

The Series E Debentures are expected to be rated BBB (stable) by DBRS Limited. An amount equal to the net proceeds from the Offering is expected to be utilized to finance and/or refinance eligible green projects within the meaning of the Trust’s Green Financing Framework (“Framework”) established in June 2021. Prior to allocation of the net proceeds of this Offering to eligible green projects, the net proceeds may be initially used to fund future acquisitions and development costs, repay existing indebtedness, and for general trust purposes. The Trust’s Framework has been reviewed by DNV, a global leader in pioneering green, social, and sustainable frameworks, and is aligned with the International Capital Markets Association Green Bond Principles 2018 and the Loan Market Association Green Loan Principles 2021.

“We continue to incorporate sustainability and impact investing principles to how we do business and create long term value for our stakeholders,” said Lenis Quan, Chief Financial Officer of Dream Industrial REIT. “We have already allocated or committed close to $500 million of proceeds from our Green Bond issuances last year, well ahead of schedule. We continue to see significant opportunities to add energy efficient buildings to our portfolio through our acquisition program and rapidly expanding development pipeline, while also investing in energy efficient lighting, sustainable roofing as well as renewable power infrastructure within our existing portfolio.”

The Series E Debentures have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer or sale of the Series E Debentures in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Series E Debentures will not be listed on any stock exchange and there will be no market for such securities. The Series E Debentures have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States and may not be offered or sold to other persons who are not residents of a province of Canada.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Series E Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Dream Industrial Real Estate Investment Trust

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at December 31, 2021, Dream Industrial REIT owns, manages and operates a portfolio of 239 industrial assets (351 buildings) comprising approximately 43 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT’s objective is to continue to grow and upgrade the quality of its portfolio which primarily consists of distribution and urban logistics properties and to provide attractive overall returns to its unitholders. For more information, please visit www.dreamindustrialreit.ca.

Non-GAAP ratios

The Trust’s consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”). In this press release, as a complement to results provided in accordance with IFRS, the Trust discloses and discusses certain non-GAAP ratios, including diluted FFO per Unit and NAV per Unit as well as other measures discussed elsewhere in this press release. Diluted FFO per Unit is comprised of FFO (a non-GAAP financial measure) divided by the weighted average number of Units. NAV per Unit is comprised of total equity (including LP B Units) (a non-GAAP financial measure) divided by the total number of Units. These non-GAAP ratios are not defined by IFRS and do not have a standardized meaning under IFRS. The Trust’s method of calculating these non-GAAP ratios may differ from other issuers and may not be comparable with similar measures presented by other issuers. Certain additional disclosures such as the composition, usefulness and changes, as applicable, of the non-GAAP ratios included in this press release have been incorporated by reference from the management’s discussion and analysis of the financial condition and results from operations of the REIT for the three months and year ended December 31, 2021, dated February 15, 2022 (the “MD&A for the fourth quarter of 2021”) and can be found under the sections “Non-GAAP Financial Measures” and “Non-GAAP Ratios” and respective sub-headings labelled “Funds from operations (“FFO”)”, “Diluted FFO per Unit” and “Net asset value (“NAV”) per Unit”. The MD&A for the fourth quarter of 2021 is available on SEDAR at www.sedar.com under the Trust’s profile and on the Trust’s website at www.dreamindustrialreit.ca under the Investors section. Non-GAAP ratios should not be considered as alternatives to comparable metrics determined in accordance with IFRS as indicators of the Trust’s performance, liquidity, cash flow, and profitability.

Forward Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this press release may include, among other things, statements regarding the intended use of proceeds of the Offering; statements regarding the Trust’s objectives and strategies to achieve those objectives; the Trust’s strategy to upgrade its portfolio quality; the Trust’s ability to acquire high-quality assets; the Trust’s ability to deliver attractive overall returns to its unitholders; the anticipated timing of closing of the acquisitions referred to in this press release, including the anticipated closing, purchase price and value of acquisitions under contract or in exclusivity; the expected rating of the Series E Debentures; the anticipated closing of the Offering; the ability of the Trust to maintain exclusive negotiations on certain assets and the Trust’s ability to close on such negotiations; the Trust’s acquisition pipeline; the Trust’s pipeline of capital deployment opportunities and its ability to generate compelling returns; the size and successful outcomes of any of the Trust’s plans for development and value-add initiatives; expectations regarding cash flow and the potential of the Trust’s assets to increase cash flow over time; expectations regarding growth in rental rates; the addition of incremental GLA over time; the Trust’s expectations and plans for the development of buildings, including a high-quality modern logistics space in the near-to-medium term; the Trust’s plans for developing a net zero carbon facility; the Trust’s ability to access capital and to maintain its strong growth trajectory; the Trust’s development, expansion, redevelopment and intensification plans, including the timing of construction and expansion, expectations regarding redevelopment potential, costs, timing of completion of the Trust’s developments and anticipated yields; the Trust’s plans to convert the proceeds of the Offering into Euros through cross-currency interest rate swap arrangements; the ranking of the Series E Debentures and the Trust’s expectations regarding growth in diluted FFO per unit and NAV per unit over time. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, general and local economic and business conditions; employment levels; mortgage and interest rates and regulations; uncertainties around the timing and amount of future financings; uncertainties surrounding the COVID-19 pandemic; geopolitical events, including disputes between nations, war and international sanctions; the financial condition of tenants; leasing risks, including those associated with the ability to lease vacant space; rental rates and the strength of rental rate growth on future leasing; and interest and currency rate fluctuations. The Trust’s objectives and forward-looking statements are based on certain assumptions, including that the general economy remains stable, interest rates remain stable, conditions within the real estate market remain consistent, historically low rates and rising replacement costs in the Trust’s operating markets remain steady, competition for acquisitions remains consistent with the current climate and that the capital markets continue to provide ready access to equity and/or debt. All forward-looking information in this press release speaks as of the date of this press release. The Trust does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in the Trust’s filings with securities regulators, including its latest annual information form and MD&A. These filings are also available at the Trust’s website at www.dreamindustrialreit.ca.

1 Expected purchase price of European assets that are firm or in exclusive negotiations translated to Canadian dollars using an exchange rate of €1.00=C$1.3881

2 Diluted FFO per unit and NAV per unit are non-GAAP ratios. For further information on these non-GAAP ratios, please refer to the statements under the heading “Non-GAAP ratios” in this press release.

Contacts

DREAM INDUSTRIAL REAL ESTATE INVESTMENT TRUST

Brian Pauls
Chief Executive Officer

(416) 365-2365

bpauls@dream.ca

Lenis Quan
Chief Financial Officer

(416) 365-2353

lquan@dream.ca

Alexander Sannikov
Chief Operating Officer

(416) 365-4106

asannikov@dream.ca

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