Dream Residential Real Estate Investment Trust
$125,060,000.00
9,620,000.00 Units at $13.00
Initial Public Offering - Closed - Friday, May 6, 2022
Company Description
Dream Residential Real Estate Investment Trust is a newly created, unincorporated, open-ended real estate investment trust established to indirectly acquire interests in a portfolio of 16 garden-style multi-residential properties located in the U.S. consisting of 3,432 units. The Initial Properties target mid-market renters and are primarily located in three markets across the attractive Sunbelt and Midwest markets in the United States, including the greater Dallas-Fort Worth region, greater Oklahoma City region, and greater Cincinnati region. The external asset managers will be Dream Asset Manager, a subsidiary of Dream and Pauls Asset Manager, a subsidiary of Pauls. Dream & Pauls.
| Address: |
30 Adelaide Street East, Suite 301 Toronto, Ontario, M5C 3H1 Canada |
|---|---|
| Phone Number: | 416 365-3535 |
| Fax Number: | 416 365-3545 |
| Website: |
| Industry: | Real Estate |
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| Closing Date: | Friday, May 6, 2022 |
| 1st Day of Trading: | Friday, May 6, 2022 |
| Primary Symbol: | DRR.U |
| Exchange: | Toronto |
Proceeds
The net proceeds of the offer will be used to fund the cash component of the purchase price for the acquisitions and for general trust purposes.
| Gross Proceeds: | US $125,060,000.00 |
|---|---|
| Underwrting Fees: | US $6,328,450.00 |
| Expense Offering: | US $11,600,000.00 |
| Net Proceeds: | US $107,131,550.00 |
| Lead Underwriter: | TD Securities Inc. |
|---|---|
| Other Underwriter(s): |
RBC Dominion Securities Inc. CIBC World Markets Inc. Scotia Capital Inc. National Bank Financial Inc. Desjardins Securities Inc. Raymond James Ltd. Laurentian Bank Securities Inc. Canaccord Genuity Corp. Cormark Securities Inc. Echelon Wealth Partners Inc. iA Private Wealth Inc. |
Performance
| 1 day | 1 week | 1 month | 6 months | Inception | |
|---|---|---|---|---|---|
| Recent Performance | 0.16 % | 8.96 % | 2.68 % | 23.29 % | -5.54 % |
| Post IPO Performance | -9.23 % |
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