Dream Industrial REIT Further Expands Portfolio in Ontario
Dream Industrial REIT Further Expands Portfolio in Ontario
REIT Purchases Manufacturing Building and a Trio of Warehouses for $110 Million
Dream Industrial REIT continued to expand its portfolio in the Ontario region with the purchase of four industrial properties last month.
In two separate deals, the REIT acquired a trio of warehouses located in Markham, Burlington and Cambridge totaling 332,915 rentable square feet from CanFirst Capital Management for a total price of $72 million and a 156,093-square-foot manufacturing facility in Brampton for $38 million from Triovest Capital.
The four properties were fully leased at the time of sale and were acquired by the company’s Dream Summit joint venture investment platform. The deals follow Dream Industrial’s first-quarter purchase of seven industrial buildings acquired from Fiera Real Estate for $71.75 million or approximately $228 per square foot. That 313,811-square-foot portfolio included four properties in Pickering and three in Ajax.
The three warehouses sold by CanFirst Capital Management include 400 Jamieson Parkway in Cambridge, 1180 Corporate Dr. in Burlington and 400 Cochrane Dr. in Markham.
Together with the recent acquisitions, the Dream Summit Joint Venture has made nearly $550 million in acquisitions in the GTA since forming in 2023, including a portfolio of seven industrial buildings acquired from Fiera Real Estate for $71.75 million or approximately $228 per square foot for this 313,811 square foot portfolio..
Source CoStar. Click here to read a full story.
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