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Press release content from Business Wire. The AP news staff was not involved in its creation.

Dream Unlimited Corp. in Advanced Negotiations for the Creation and Launch of a Private U.S. Industrial Investment Fund

June 24, 2021 GMT

TORONTO--(BUSINESS WIRE)--Jun 24, 2021--

DREAM UNLIMITED CORP. (TSX: DRM) (“Dream”) announced today that it is in advanced negotiations with Dream Industrial Real Estate Investment Trust (TSX: DIR.UN) (“Dream Industrial REIT”) and a group of institutional investors in connection with the creation and launch of a private U.S. industrial investment fund (the “Fund”). Under the contemplated arrangements, Dream Industrial REIT would contribute its U.S. portfolio to the Fund, repatriating over $250 million of equity at values in excess of March 31, 2021 IFRS carrying values, and retain a 25% interest in the Fund at the time of closing. A subsidiary of Dream will act as the investment manager of the Fund earning investment management fees in line with market rates; Dream Industrial REIT will continue to pay fees on its 25% interest under its current asset management agreement with Dream. Dream Industrial REIT will provide property management services to the Fund at market rates.

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About Dream Unlimited Corp.

Dream is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income generating assets in both Canada and the U.S., and has an established and successful asset management business, inclusive of $10 billion of assets under management across three Toronto Stock Exchange listed trusts and numerous partnerships. We also develop land and residential assets in Western Canada. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities.

Forward Looking Information

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This news 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”, “would”, “could”, “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 news release may include, among other things, the status of our negotiations with Dream Industrial REIT and a group of institutional investors to create and launch the Fund; Dream Industrial REIT contributing its U.S. portfolio to the Fund and repatriating over $250 million of equity at values in excess of March 31, 2021 IFRS carrying values, and retaining a 25% interest in the Fund at the time of closing; Dream acting as investment manager of the Fund and the amount of management fees to be paid to Dream; and Dream Industrial REIT providing property management services to the Fund and the amount of property management fees to be paid to Dream Industrial REIT. 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 Dream’s control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These assumptions include, but are not limited to: the nature of development lands held and the development potential of such lands, our ability to bring new developments to market, anticipated positive general economic and business conditions, including low unemployment and interest rates, positive net migration, oil and gas commodity prices, our business strategy, including geographic focus, anticipated sales volumes, performance of our underlying business segments and conditions in the Western Canada land and housing markets. Risks and uncertainties include, but are not limited to, general and local economic and business conditions, the impact of the COVID-19 pandemic on the Company and uncertainties surrounding the COVID-19 pandemic, including government measures to contain the COVID-19 pandemic employment levels, regulatory risks, mortgage rates and regulations, environmental risks, consumer confidence, seasonality, adverse weather conditions, reliance on key clients and personnel and competition. All forward-looking information in this press release speaks as of June 24, 2021. Dream 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 disclosed in Dream’s filings with securities regulators, including its latest annual information form and MD&A. These filings are available filed on SEDAR ( www.sedar.com ) and at Dream’s website at www.dream.ca.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210624006013/en/

CONTACT: Dream Unlimited Corp.Deb Starkman

Chief Financial Officer

(416) 365-4124

dstarkman@dream.caKim Lefever

Director, Investor Relations

(416) 365-6339

klefever@dream.ca

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY REIT

SOURCE: Dream Unlimited Corp.

Copyright Business Wire 2021.

PUB: 06/24/2021 05:08 PM/DISC: 06/24/2021 05:08 PM

http://www.businesswire.com/news/home/20210624006013/en