Mergers and Acquisitions

Dream Industrial REIT in its $850 million European logistics portfolio acquisition and associated financing

Dream Industrial REIT
Key Contact
Desmond Lee

Partner, Corporate, Toronto

Team
Sandra Malcolm

Counsel, Corporate, Toronto

Wesley Cohen

Associate, Corporate, Toronto

Shruti Chowdhry

Associate, Corporate, Toronto

Samuel Cohen

Associate, Translation, Montréal

Timothy Hughes

Partner, Tax, Toronto

Jack Silverson

Partner, Tax, Toronto

Douglas Marshall

Partner, Corporate, Toronto

Firoz Ahmed

Partner, Tax, Toronto

Michael Innes

Partner, Chair: Corporate, Toronto

 

On June 24, 2021, Dream Industrial REIT completed its acquisition of an 8.9 million square foot European logistics portfolio. The transaction consists of an acquisition of shares of a corporation owning a portfolio of 31 institutional logistics properties throughout Europe for $850 million. The transaction was financed by cash, the proceeds raised in the company’s $287.5 million subscription receipts offering and a portion of the proceeds from the $800 million unsecured debenture offering. The acquisition allows Dream Industrial REIT to accelerate its European expansion strategy and establishes a pan-European real estate platform.

Dream Industrial REIT is a real estate investment trust specialized in geographically diversified industrial properties across North America.

Osler, Hoskin & Harcourt LLP advised Dream Industrial REIT with a team consisting of Desmond Lee (Equity Capital Markets), Michael Innes (Debt Capital Markets), Doug Marshall (Mergers & Acquisitions), Sandra Malcolm, Jennifer Cao, Jesany Killam-Michel, Kelsey Weiner, Wesley Cohen, Shruti Chowdhry (Corporate), Firoz Ahmed, Jack Silverson, Timothy Hughes (Tax), and Samuel Cohen (Translation).

Value
$850 million
Date Closed
June 24, 2021
Lead Office
Toronto
Key Contact
Desmond Lee

Partner, Corporate, Toronto

Team
Sandra Malcolm

Counsel, Corporate, Toronto

Wesley Cohen

Associate, Corporate, Toronto

Shruti Chowdhry

Associate, Corporate, Toronto

Samuel Cohen

Associate, Translation, Montréal

Timothy Hughes

Partner, Tax, Toronto

Jack Silverson

Partner, Tax, Toronto

Douglas Marshall

Partner, Corporate, Toronto

Firoz Ahmed

Partner, Tax, Toronto

Michael Innes

Partner, Chair: Corporate, Toronto