Article content material
TORONTO — Dream Unlimited Corp. (TSX: DRM) (“Dream”) introduced at this time that its curiosity in Dream Office Real Estate Investment Trust ( TSX: D.UN ) (“ Dream Office REIT ”) is deemed to have elevated on account of the deemed acquisition by Michael Cooper of 1,196 REIT Units, Series A (“ Units ”) of Dream Office REIT, representing lower than 0.01% of the issued and excellent Units, pursuant to the vesting of the identical variety of deferred belief items beneath Dream Office REIT’s Deferred Unit Incentive Plan. Prior to this deemed acquisition, Dream and its joint actors, which embody Mr. Cooper, owned 19,051,147 Units representing roughly 36.0% of the issued and excellent Units. Following Mr. Cooper’s deemed acquisition, Dream and its joint actors personal 19,052,343 Units representing roughly 36.0% of the issued and excellent Units.
Article content material
Mr. Cooper is deemed to have acquired useful possession of the Units, efficient January 14, 2022, pursuant to the vesting of the identical variety of deferred belief items beneath Dream Office REIT’s Deferred Unit Incentive Plan. No consideration was paid by Mr. Cooper in reference to the vesting of the deferred belief items ensuing in the deemed acquisition of Units.
Subject to market situations and Dream’s funding technique, Mr. Cooper and his joint actors, together with Dream, intend to additional make investments in Dream Office REIT on an opportunistic foundation as Dream Office REIT refines its portfolio and give attention to core Toronto belongings, which is aligned with Dream’s increasing actual property and improvement footprint throughout downtown Toronto and the Greater Toronto Area. Dream is not directly managed by Mr. Cooper, President and Chief Responsible Officer of Dream. Dream supplies strategic recommendation to Dream Office REIT pursuant to a administration companies settlement. Mr. Cooper additionally serves because the Chief Executive Officer and Chair of the Board of Trustees of Dream Office REIT.
This press launch is being issued pursuant to the necessities of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”) of the Canadian Securities Administrators. A replica of the report to be filed by Mr. Cooper in reference to the transactions described herein can be obtainable on Dream Office REIT’s SEDAR profile at www.sedar.com , and may also be obtained by contacting Mr. Robert Hughes, General Counsel, Dream Unlimited Corp. at 416-365-3535.
Dream and Dream Office REIT’s head workplace is situated at Suite 301, State Street Financial Centre, 30 Adelaide Street East, Toronto, Ontario M5C 3H1.
About Dream Unlimited Corp.
Dream is a number one developer of remarkable workplace and residential belongings in Toronto, owns stabilized earnings producing belongings in each Canada and the U.S., and has a longtime and profitable asset administration enterprise, inclusive of $13 billion of belongings beneath administration throughout three Toronto Stock Exchange listed trusts, a personal asset administration enterprise and quite a few partnerships. Dream additionally develops land and residential belongings in Western Canada. Dream expects to generate extra recurring earnings in the long run as its city improvement properties are accomplished and held for the long run. Dream has a confirmed monitor report for being revolutionary and for our means to supply, construction and execute on compelling funding alternatives.
Dream Unlimited Corp.
Chief Financial Officer
Director, Investor Relations