Dream Office REIT Announces $178 Million Bought Deal Secondary Offering of Units of Dream Industrial REIT With Intention to Return Capital to Unitholders

May 04, 2023

DREAM OFFICE REAL ESTATE INVESTMENT TRUST (D.UN-TSX) (“Dream Office REIT”, the “Trust” or “we”) today announced it has entered into an agreement to sell, on a bought deal basis, 12,500,000 units of Dream Industrial REIT (DIR.UN-TSX) (the “DIR Units”) at a price of $14.20 per DIR Unit to a syndicate of underwriters led by TD Securities Inc. (the “Underwriters”) for total gross proceeds of approximately $177.5 million (the “Secondary Offering”). Closing of the Secondary Offering is subject to certain customary conditions. The Secondary Offering is expected to close on or about May 16, 2023.

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