Dream Industrial REIT Announces Entry Into U.K. Multi-Let Industrial Market and Growth of Strategic Private Ventures in Europe
This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release. All dollar amounts are in Canadian dollars unless otherwise indicated.
Dream Industrial Real Estate Investment Trust (TSX: DIR.UN) (the “Trust” or the “REIT” or “DIR”) today announced that the Trust and Dream Unlimited Corp. (TSX: DRM) (“Dream”), have entered into definitive agreements for Dream to acquire Chancerygate Limited (“Chancerygate” or “CG”), a U.K.-based industrial developer and asset manager with a 30-year track record in the multi-let industrial (“MLI”) sector.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260730297448/en/ Audio Park, Sussex, UK - 104,000 sq ft
As part of the transaction, Dream will assume Chancerygate's investment management and development platform. Dream Industrial REIT will acquire Chancerygate's wholly owned real estate assets and co-investment interests across its managed ventures for consideration of approximately £78 million ($147 million), gross of certain in-place debt on the wholly owned real estate assets, and expects to fund an additional £25 million ($47 million) to complete the developments. The final purchase price will be subject to customary post-closing adjustments including working capital items. The REIT intends to fund the acquisition through a combination of cash on hand, assumed debt and its unsecured revolving credit facility. The transactions are expected to close in August 2026.
