TORONTO, Oct. 27, 2017 (GLOBE NEWSWIRE) -- Dream Unlimited Corp. (TSX:DRM) (TSX:DRM.PR.A) (“Dream”) announced today that it has acquired 725,765 REIT Units, Series A (“Units”) of Dream Office REIT (TSX:D.UN) (“Dream Office REIT”), representing approximately 0.9% of the issued and outstanding Units, on the Aequitas NEO Exchange Inc. (Lit Book) for aggregate consideration of $15,270,096 or $21.04 per Unit. Prior to the acquisition, Dream and its joint actors owned 13,465,987 Units representing approximately 16.7% of the issued and outstanding Units and, following the acquisition, Dream and its joint actors own 14,191,752 Units representing approximately 17.6% of the issued and outstanding Units.
Dream acquired the Units in order to increase its equity interest in the business of Dream Office LP, the principal operating subsidiary of Dream Office REIT. Dream intends to evaluate its investment in Units on a continuing basis and may either acquire Units or decrease its holdings of Units in the future. Dream is controlled by Michael Cooper, President and Chief Responsible Officer of Dream. As the Chair of the Board of Trustees of Dream Office REIT and the President and Chief Responsible Officer of DAM, which provides strategic advice to Dream Office REIT pursuant to a management services agreement, Michael Cooper expects to have significant influence over the management of Dream Office REIT.
This press release is being issued pursuant to the requirements 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 copy of the report to be filed by Dream in connection with the transactions described herein will be available on Dream Office REIT’s SEDAR profile at www.sedar.com, and can also be obtained by contacting Mr. Robert Hughes, Vice-President, Legal Counsel, Dream Unlimited Corp. at 416-365-3535.
Dream’s head office is located at Suite 301, State Street Financial Centre, 30 Adelaide Street East, Toronto, Ontario M5C 3H1. Dream Office REIT’s head office is located at Scotia Plaza, 40 King Street West, Suite 3700, Toronto, ON M5H 3Y2.
About Dream Unlimited Corp.
Dream is one of Canada’s leading real estate companies with approximately $14.8 billion of assets under management in North America and Europe. The scope of the business includes residential land development, housing and condominium development, asset management for four TSX-listed trusts, investments in and management of Canadian renewable energy infrastructure and commercial property ownership. Dream has an established track record for being innovative and for its ability to source, structure and execute on compelling investment opportunities.
For further information, please contact:
Dream Unlimited Corp.
Michael J. Cooper
Chief Responsible Officer
(416) 365-5145
mcooper@dream.ca
Pauline Alimchandani
Chief Financial Officer
(416) 365-5992
palimchandani@dream.ca