Dream Industrial REIT

Dream Industrial REIT in its $250 million private placement of senior unsecured debentures


Dream Industrial REIT


$250 million


Capital Markets

Date Closed

December 2020



Lead Office



On December 15, 2020, Dream Industrial REIT announced its private placement of senior unsecured debentures. The inaugural offering consists of $250 million principal amount of 1.662% Series A Debentures due in December 2025. The offering is made by a syndicate of agents led by TD Securities Inc., Scotia Capital Inc. and RBC Dominion Securities Inc. Dream has entered into a cross currency interest swap arrangement to convert the proceeds from the offering into Euros, which is expected to result in an effective yield of 0.49%. The proceeds from the offering will be used to fund future acquisitions, repay existing debt and for general trust purposes.

Dream Industrial REIT is an unincorporated and open-ended 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 Michael Innes, Desmond Lee, Jesany Michel, Stella Gore (Corporate), Jack Silverson and Jennifer Horton (Taxation).