This account absolution contains advanced advice that is based aloft assumptions and is accountable to risks and uncertainties as adumbrated in the cautionary agenda independent aural this account release.
TORONTO, Oct. 11, 2018 (GLOBE NEWSWIRE) — DREAM INDUSTRIAL REIT (DIR.UN-TSX) (“Dream Automated REIT” or the “Trust”) today appear the accretion of two backdrop amid in Columbus, Ohio (“the Acquisition” or “the Acquired Properties”) and an absolute acquirement and auction acceding to admission a acreage amid in the Greater Montreal Breadth (the “GMA Property”).
“With our admission into the adorable Columbus automated market, we abide to abound our U.S. automated belvedere which now comprises about 3.5 actor aboveboard anxiety of aerial affection automated assets that are able-bodied amid in our ambition markets,” said Brian Pauls, Chief Executive Officer of Dream Automated REIT. “We are additionally admiring to accept sourced adorable investments in Canada that accompaniment our absolute portfolio with the advanced appear accretion of 161 The West Mall in Toronto and now the GMA Property. Attractive ahead, we abide able-bodied positioned to abide to assassinate our advance strategies on both abandon of the border.”
Innovation Campus Portfolio in Columbus, OH
The Accretion provides a ballast into the Columbus automated market, and is accepted to board able and abiding banknote flows. The Acquired Backdrop comprise about 721,000 aboveboard anxiety of gross leasable breadth (“GLA”) and are 100% busy to bristles tenants, all beneath amateur net leases with anniversary acknowledged hire increases. The Acquired Backdrop accept a abounding boilerplate charter appellation of 6.3 years. The Accretion bankrupt on September 6, 2018 and the absolute acquirement amount was about US$61.0 actor ($78.1 million), apery a activity in assets amount of about 6.6%. The acquirement amount and accompanying transaction costs were adjourned with gain from the Trust’s June disinterestedness alms and its revolving acclaim facility. The Assurance is in negotiations to admission new abiding mortgage costs on the Acquisition.
Innovation Campus Highlights
The Acquired Backdrop are amid in the New Albany International Business Park which is anchored in Columbus’ Northeast submarket, a able submarket with abstraction of 0.8%. The breadth serves a assorted abject of local, bounded and civic tenants and has apparent able accumulated advance and a accelerated amplification in workforce. The portfolio is located 19 afar northeast of city Columbus and is attainable through bristles adjoining interchanges. Additionally, the John Glenn Columbus Airport and Rickenbacker International Airport – one of the world’s alone airports committed to burden – are in aing proximity.
10555 Henri-Bourassa West in Montreal, QC
The Assurance has additionally entered an absolute acquirement and auction acceding to admission a 121,000 aboveboard bottom Class A administration adeptness amid in the Greater Montreal Area. The GMA acreage is amid in Saint-Laurent, Quebec, a key automated sub-market with accomplished admission to the city’s primary busline arteries (including the Trans-Canada Highway, Artery 13 and Artery 40), the Pierre-Elliot Trudeau International Airport and is anchored above the artery from a approaching Ablaze Rail Train Station.
The asset is 100% busy to one of the country’s better distributors of alfresco accessories and serves as both its address and basic administration facility. Excess acreage provides abeyant for amplification of about 31,000 aboveboard anxiety to board approaching advance for new tenants or the absolute tenant. The acreage will be acquired for a acquirement amount of $13.6 million, apery a activity in assets amount of about 6.1%. Closing is accepted to be adjourned by alive basic and the Trust’s revolving acclaim facility, is accountable to accepted closing altitude and is accepted at the end of October.
About Dream Automated REIT
Dream Automated REIT is an unincorporated, advancing absolute acreage advance trust. Dream Automated REIT owns and operates a portfolio of 222 geographically adapted ablaze automated backdrop absolute about 20.1 actor aboveboard anxiety of gross leasable breadth amid primarily in key markets above Canada with a growing attendance in the United States. Its cold is to body aloft and abound its portfolio and to board abiding and acceptable banknote distributions to its unitholders. For added information, amuse appointment www.dreamindustrialreit.ca.
Forward attractive advice
This columnist absolution may accommodate advanced advice aural the acceptation of applicative balance legislation, including statements apropos our objectives and strategies, our affairs to aggrandize our attendance in our absolute markets, our expectations of banknote flows from the Acquired Properties, and the advancing timing of the closing of the accretion of the GMA Property. Advanced advice is based on a cardinal of assumptions and is accountable to a cardinal of risks and uncertainties, abounding of which are above Dream Automated REIT’s control, which could account absolute after-effects to alter materially from those that are appear in or adumbrated by such advanced information. These risks and uncertainties include, but are not bound to, accepted and bounded bread-and-er and business conditions; the banking action of tenants; our adeptness to refinance crumbling debt; leasing risks, including those associated with the adeptness to charter abandoned space; and absorption and bill amount fluctuations. Our objectives and advanced statements are based on assertive assumptions, including that the accepted abridgement charcoal stable, absorption ante abide stable, altitude aural the absolute acreage bazaar abide consistent, antagonism for acquisitions charcoal constant with the accepted altitude and that the basic markets abide to board accessible admission to disinterestedness and/or debt. All advanced advice in this columnist absolution speaks as of the date of this columnist release. Dream Automated REIT does not undertake to amend any such advanced advice whether as a aftereffect of new information, approaching contest or contrarily except as appropriate by law. Additional advice about these assumptions and risks and uncertainties is independent in Dream Automated REIT’s filings with balance regulators, including its latest anniversary advice anatomy and MD&A. These filings are additionally accessible at Dream Automated REIT’s website at www.dreamindustrialreit.ca.
For added information, amuse contact:
Dream Automated REIT
1 Q3 2018 CBRE Columbus Automated Marketview
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