TORONTO–(BUSINESS WIRE)–DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (TSX: DRR.U and TSX: DRR.UN) (“Dream Residential REIT” or the “REIT”) today announced its September 2025 monthly distribution in the amount of US$0.035 per unit (US$0.42 annualized). The September distribution will be payable on October 15, 2025 to unitholders of record as at September 30, 2025.

About Dream Residential REIT

Dream Residential REIT is an unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. The REIT owns a portfolio of garden-style multi-residential properties, primarily located in three markets across the Sunbelt and Midwest regions of the United States. For more information, please visit www.dreamresidentialreit.ca.

Contacts

Dream Residential REIT

Brian Pauls

Chief Executive Officer

(416) 365-2365

bpauls@dream.ca

Derrick Lau

Chief Financial Officer

(416) 365-2364

dlau@dream.ca

Scott Schoeman

Chief Operating Officer

(303) 519-3020

sschoeman@dream.ca

 

 

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.

TORONTO–(BUSINESS WIRE)–Dream Impact Trust (TSX: MPCT.UN) (“Dream Impact” or the “Trust”), announced today that Dream Impact and the beneficial holders of the Trust’s 5.50% convertible unsecured subordinated debentures due July 31, 2026 (the “Debentures”) have reached an agreement to extend and amend certain terms of the Debentures. All of the Debentures are beneficially owned by certain controlled affiliates of Fairfax Financial Holdings Limited (collectively, “Fairfax”).

Dream Impact and Fairfax have agreed to extend the maturity date of the Debentures from July 31, 2026 to July 31, 2031. In addition, the interest rate of the Debentures will change from 5.50% to 6.50% and the conversion price of the Debentures will be adjusted to $2.75 per unit. Under the amended terms of the Debentures, the Trust will have the right at its sole option to satisfy any conversion request in cash in lieu of delivering units of the Trust that would otherwise be issuable on conversion of the Debentures.

“We are extremely pleased to announce the extension of the Debentures as this was a significant debt maturity for the Trust in 2026, and the new cash settlement option on a conversion reduces potential dilution down the road,” said Meaghan Peloso, Chief Financial Officer of Dream Impact. “This is one step among many that we have completed, and we will continue to provide updates as we make progress on advancing our strategic initiatives.”

The amendments to the Debentures will be subject to the approval of a majority of the votes cast at a special meeting of unitholders of the Trust as well as the approval of the Toronto Stock Exchange and other customary closing conditions for transactions of this nature. Dream Unlimited Corp., which holds 6,852,681 units of the Trust representing 37% of the Trust’s issued and outstanding units, has agreed to vote in favour of the amendments to the Debentures. The special meeting of unitholders of the Trust is expected to be held in the fall of this year.

Further information regarding the amendments to the Debentures will be included in the Trust’s management information circular which will be mailed to unitholders of the Trust. A copy of the agreement relating to the amendments to the Debentures and the management information circular will be available on and under the Trust’s profile on www.sedarplus.ca following their filing by the Trust.

The amendments to the Debentures will also require the consent of holders of not less than 66⅔% of the principal amount of all of the outstanding Debentures. Fairfax has agreed to consent to the amendments to the Debentures. As a result, the Trust anticipates that it will obtain the requisite approval of the Debenture holders.

The amendments to the Debentures are expected to be effective in late 2025 or early 2026, subject to the satisfaction of the conditions to the amendments.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in Canada, the United States or any other jurisdiction.

Management Changes

The Trust is pleased to announce the appointment of Derrick Lau as Chief Financial Officer of the Trust effective September 19, 2025. In his new role, Mr. Lau will oversee all financial aspects of the Trust as it continues to execute on its strategic objectives. Mr. Lau currently serves as the Chief Financial Officer of Dream Residential Real Estate Investment Trust (“DRR”), spearheading the overall financial management of DRR since its initial public offering in 2022. Mr. Lau has over 15 years of experience in the real estate industry and has been with Dream, the Trust’s asset manager, for the last 10 years in increasingly senior finance and strategy roles.

With Mr. Lau’s appointment, Ms. Meaghan Peloso will continue to provide strategic support to the Trust through her role as Chief Financial Officer of Dream, Dream Impact’s asset manager. “Over the past six years, since joining the Trust’s management team, Meaghan has done an outstanding job in leading the financial planning and reporting function of the Trust through a more challenging economic backdrop for real estate,” said Amar Bhalla, Chair of Dream Impact. “I would like to thank Meaghan for her dedication over the years, and we are also pleased to welcome Derrick to the team.”

About Dream Impact Trust

Dream Impact 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. For more information, please visit: www.dreamimpacttrust.ca.

Forward Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation. Such forward-looking information includes, but is not limited to, information and statements concerning the proposed amendments to the Debentures and the terms thereof, the anticipated timing for the amendments and the related meeting of the Trust’s unitholders, and the anticipated receipt of consents by the debentureholders to the amendments. There can be no assurance that the amendments to the Debentures will be completed or that they will be completed on the terms and conditions contemplated in this release. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “would”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. 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 our control that 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, the risk of adverse global market, economic and political conditions and health crises; risks inherent in the real estate industry; risks relating to investment in development projects; impact investing strategy risk; risks relating to geographic concentration; risks inherent in investments in real estate, mortgages and other loans and developments; credit risk and counterparty risk; competition risks; environmental and climate change risks; risks relating to access to capital; interest rate risk; the risk of changes in governmental laws and regulations; tax risks; foreign exchange risk; acquisitions risk; and leasing risks. Our objectives and forward looking statements are based on certain assumptions with respect to each of our markets, including that the general economy remains stable; that no unforeseen changes in the legislative and operating framework for our business will occur; that we will meet our future objectives, priorities and growth targets; that we receive the licenses, permits or approvals necessary in connection with our projects; that we will have access to adequate capital to fund our future projects, plans and any potential acquisitions; that we are able to identify high quality investment opportunities and find suitable partners with which to enter into joint ventures or partnerships; that we do not incur any material environmental liabilities; interest rates remain stable; there will not be a material change in foreign exchange rates; conditions within the real estate market remain consistent; and competition for and availability of acquisitions remains consistent with the current climate. All forward-looking information in this press release speaks as of the date of this press release. Dream Impact 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 Dream Impact’s filings with securities regulators, including its latest annual information form and MD&A. These filings are also available at Dream Impact’s website at www.dreamimpacttrust.ca.

Contacts

For further information, please contact:

Meaghan Peloso

Chief Financial Officer

(416) 365-6322

mpeloso@dream.ca

Kim Lefever

Director, Investor Relations

(416) 365-6339

klefever@dream.ca

Ontario–(BUSINESS WIRE)–Axis Insurance Managers Inc. is pleased to announce the appointment of Kevan Thompson as National Senior Vice President of the Construction, Contractors & Real Estate (CCRE) practice group. Kevan will lead Axis’s national CCRE practice, guiding strategy and delivery of specialized risk management, insurance, and performance security solutions to clients across Canada’s construction industry.

With more than two decades of experience, Kevan brings deep knowledge in construction risk management across project-specific insurance programs, contract review and modeling, contract surety, and subcontractor default insurance (SDI). He has held senior leadership roles throughout his career and is recognized for helping clients manage complex risks, strengthen their competitive position, and achieve lasting growth.

Axis Insurance is an award-winning brokerage offering comprehensive risk management and insurance services to local, national, and international clients. Since 1928, Axis has grown into a leading national brokerage with over 400 dedicated professionals who specialize in assessing business and personal risks, delivering solutions to mitigate, reduce, or transfer them. Axis is committed to creating tailored strategies that empower clients to embrace risk as a pathway to growth and resilience.

As a full-service brokerage, Axis specializes in commercial insurance, personal insurance, life, employee benefits, and wealth advisory services. Axis’s success stems from strategic acquisitions and organic growth, supported by 16 specialized practice groups. This collaborative approach enables the firm to deliver innovative solutions, anticipating industry shifts and adapting to evolving client needs.

Axis’s strong corporate culture encourages employee ownership, drives shared success, and fosters top performance. The company’s mission centers on transforming risk into opportunity, empowering clients to navigate uncertainty confidently and purposefully.

Contacts

Media Inquiries
Bella Bothamley

Manager, Marketing

Axis Insurance

bella.bothamley@axisinsurance.ca

Transaction reflects evolution of the QuadReal and Realstar partnership

VANCOUVER, British Columbia–(BUSINESS WIRE)–QuadReal Property Group (“QuadReal”), a global real estate investment, development and operating company announced today that it has fully acquired the UNCLE brand in the UK and Europe as well as Realstar’s UK&I residential operating platform, which will be re-named.

The transaction consolidates the operating company under QuadReal. Ryan Prince will remain as CEO for the next 12 months. Following this transition period, he will move to the role of non-executive Chairman. The current team will remain to expand the business.

Established partnership

QuadReal and Realstar launched their first joint venture in 2017, expanded the relationship through asset acquisitions and, in 2021, QuadReal purchased a minority interest in the Realstar UK operating company.

Today, the platform manages nearly 6,000 residential units across London, Manchester, Birmingham, Leeds, and Dublin. A substantial portion of this portfolio operates under the UNCLE brand, which is known for its award-winning design, amenity spaces, and innovative resident services that offer unprecedented flexibility. UNCLE is consistently rated the UK’s top rental brand on platforms such as Trustpilot.

QuadReal will continue to expand its UK and European BTR and student housing portfolio and will leverage the well-established UNCLE brand in these markets.

This transaction does not affect Realstar’s other UK-owned assets outside the joint venture, nor does it have any impact on Realstar’s Canadian or other international activities. Following the transaction, Realstar will continue to pursue new investment opportunities in the UK and Ireland.

Global residential portfolio

Globally, QuadReal has significant experience in the residential sector. Its portfolio includes over 65,000 residential units and 28,000 student beds, predominantly in North America and Australia. In the UK, QuadReal has over 8,500 residential units and 4,500 student beds across 29 communities.

Jonathan Dubois-Phillips, President, International Real Estate at QuadReal said: “This furthers QuadReal’s global residential strategy and positions us well for future growth in both the built-to-rent and student housing markets. We have a solid residential foundation in the UK because of our partnership with Realstar, and QuadReal will continue to deliver value through operational excellence and solid portfolio and asset management.”

Ryan Prince, Vice Chairman of Realstar and founder of UNCLE, said: “I am incredibly proud of the businesses we have built, the brands we founded, and the people I have worked alongside since launching Realstar’s UK operations nearly 25 years ago. Since the establishment of our UK business, we have worked across sectors from GP surgeries to hotels, BTR, student accommodation and co- living. QuadReal’s investment, particularly over the past five years has turbo-charged our growth, and the business is now in its strongest position yet. I look forward working alongside QuadReal on the UK BTR and student fronts while at the same time seeking out new opportunities for Realstar to grow in the UK and Europe.”

About QuadReal Property Group

QuadReal Property Group is a global real estate investment, development and operating company headquartered in Vancouver, British Columbia. Its assets under management are $94 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating platforms in which it holds an ownership interest.

QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.

QuadReal: Excellence lives here.

About Realstar

Founded in Canada in 1974, Realstar is a privately owned real estate investment and management company with over C$9 billion in assets spanning multifamily, hospitality, and alternative asset classes. A vertically integrated owner-operator, Realstar partners with leading institutions including pension funds, sovereign wealth funds, and high-net-worth families.

Active in the UK for 24 years, Realstar has acquired or developed more than £3.5 billion in assets, with a focus on overlooked and underserved sectors including BTR, primary healthcare, and hotels.

Whether for a night, a year, or a decade, the Realstar Group strives to be the most trusted owner and operator of the places our customers call home.

Contacts

FTI Consulting (QuadReal)

Giles Barrie, Bryn Woodward

0779 892 6814 / 07929 383297

Quadreal@fticonsulting.com

TORONTO–(BUSINESS WIRE)–RioCan Real Estate Investment Trust (“RioCan”) (TSX: REI.UN) today announced a distribution of 9.65 cents per unit for the month of September. The distribution will be payable on October 7, 2025, to unitholders of record as at September 30, 2025.

About RioCan

RioCan meets the everyday shopping needs of Canadians through the ownership, management and development of necessity-based and mixed-use properties in densely populated communities. As at June 30, 2025, our portfolio is comprised of 178 properties with an aggregate net leasable area of approximately 32 million square feet (at RioCan’s interest). To learn more about us, please visit www.riocan.com.

Contacts

RioCan Real Estate Investment Trust

Investor Relations Inquiries

Email: ir@riocan.com

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced its inclusion in the MSCI US REIT Index (RMZ), effective after market close on August 26, 2025.

The MSCI US REIT Index is widely recognized as a leading benchmark for the U.S. real estate sector. The index comprises equity REITs and represents a key measure of real estate performance for institutional investors and asset managers worldwide.

“We are honored to be added to the MSCI US REIT Index,” said H. Michael Schwartz, Chairman and CEO of SmartStop. “The inclusion in this leading REIT index is a significant milestone for our Company. We look forward to this opportunity to broaden our shareholder base and increase SmartStop’s visibility within the publicly traded REIT community.”

SmartStop’s inclusion in the MSCI US REIT Index is expected to further increase the company’s visibility and engagement with the investment community, especially the REIT-dedicated investment community, highlighting the company’s continued growth.

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

SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of more than 600 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 September 11, 2025, SmartStop has an owned or managed portfolio of 236 operating properties in 23 states, the District of Columbia, and Canada, comprising approximately 170,500 units and 19.1 million rentable square feet. SmartStop and its affiliates own or manage 49 operating self-storage properties in Canada, which total approximately 41,800 units and 4.2 million rentable square feet.

Contacts

David Corak
Senior VP of Corporate Finance & Strategy

SmartStop Self Storage REIT, Inc.

IR@smartstop.com