Dream Impact Trust targets projects that create positive and lasting impacts on communities and the environment, while achieving market returns. The Trust provides investors with access to an exceptional portfolio of real estate development and income properties that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful track record in these areas.
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Overview
Diverse portfolio of high-quality real estate assets
First
publicly traded impact investing vehicle in Canada.$9.31
net asset value as at December 31, 2021.(1)(updated annually)1) For the Trust’s definition of the following specified financial measure: NAV per unit, please refer to the Specified Financial Measures and Other Disclosures section of the 2021 Annual Report. NAV per unit is updated annually. NAV is not a standardized financial measure under IFRS and might not be comparable to similar measures disclosed by other issuers.
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Dream Impact Trust 30 Adelaide Street East, Suite 301, Toronto, ON M5C 3H1Transfer Agent
Computershare Investor Services 100 University Avenue, 8th Floor, Toronto, ON M5J 2Y2About
Dream Impact Trust
Dream Impact Trust is dedicated to impact investing. Impact investing is the intention of creating measurable, positive, social and environmental change in our communities and for our stakeholders, while generating attractive financial returns.
The Trust’s underlying portfolio is comprised of exceptional real estate assets reported under two operating segments: development and investment holdings, and recurring income.
Our fundamental objectives are to:
- Create positive and lasting impacts for our stakeholders through our three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities;
- Balance growth and stability of the portfolio, increasing cash flow, unitholders’ equity and net asset value (“NAV”)(1) over time;
- Leverage our access to an experienced management team and strong partnerships in order to generate attractive returns for investors;
- Provide investors with a portfolio of high-quality real estate assets, concentrated in core geographic markets; and
- Provide predictable distributions to unitholders on a tax-efficient basis.
(1)Represents a non-GAAP measure. For the Trust’s definition of the following non-GAAP measure: NAV, please refer to the Specified Financial Measures and Other Disclosure section of the MD&A. NAV is not a standardized measure under IFRS and might not be comparable to similar measures disclosed by other issuers.
Operating Segments
The Trust’s operating segments currently consist of the following:
- Recurring income — comprised of a portfolio of stabilized office and commercial real estate income properties and multi-family rental assets in the Greater Toronto Area (“GTA”) and Ottawa/Gatineau, a utility asset(1), interest-paying corporate loans; and
- Development and investment holdings — comprised of direct and indirect investments in residential and mixed-use developments, a hospitality asset, and participating mortgage receivables.
(1) Relates to Zibi Community Utility. For further details, refer to Summary of Impact Investments of the MD&A.
Our Impact Portfolio
Zibi
A 34 -acre mixed use waterfront community in the National Capital Region which will be the first designated “One Planet Master-Planned Community” in Canada. It is expected to be one of the least environmentally impactful communities in North America.
West Don Lands
The West Don Lands is a purpose built, LEED Gold, rental community and is one of the largest affordable housing projects in Canada. It is the first development within the Provincial Affordable Housing Lands Program to break ground.
Indigenous Hub
The first purpose-built, Indigenous Hub in a major North American City being developed in partnership with Anishnawbe Health Toronto and will provide the indigenous community with a health centre, career centre, and day-care, as well as an integrated market rental apartment.
Brightwater
Brightwater will be transformed from a former oil refinery into a vibrant, green, mixed use waterfront community and home for 6,000 people in the highly desirable Port Credit neighbourhood.
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Impact
Overview
Impact Investing is one of the fastest growing segments of the $3.2 trillion sustainable investing market.
Impact investing is the intention of creating measurable positive, social and environmental change in our communities and for our stakeholders, while generating attractive market returns. Integrating impact into our projects is financially attractive and actively contributes to our mission of making a meaningful positive and lasting impact within our communities.
As an investor and developer of communities, Dream is in a strong position to improve sustainability and advance socio-economic equality through purposeful development and management of real estate.
Impact Investing Focus
The Trust is well positioned, with its existing assets and robust development pipeline, to deliver strong financial returns to its stakeholders, while having a meaningful, positive impact along three verticals: Environmental Sustainability and Resilience, Attainable and Affordable Housing, and Inclusive Communities. Our three impact verticals align with the universally recognized and accepted UN SDGs.
Environmental Sustainability and Resilience
Develop sustainable real estate that optimizes energy use, limits greenhouse gas (“GHG”) emissions, and reduces water use and waste while also creating resiliency against natural disasters and major climatic events.
Attainable and Affordable Housing
Invest in mixed-income communities that are transit oriented, located close to employment opportunities, and support an overall lower relative cost of living with high quality of life.
Inclusive
Communities
Intentionally design and program communities that are safe and inclusive for everyone. This includes creating spaces that encourage mental and physical health, and wellness.
The Trust’s portfolio strategy will be anchored by the United Nations Sustainable Development Goals (“UN SDGs”) and it will report its impact performance against the leading standards as they evolve. Together, these verticals are aligned with 13 of the 17 UN SDGs, which have the support of 162 countries and territories.
Approach to Impact Management
Dream’s impact effort will be consistent with leading industry frameworks. We are committed to an impact management approach that incorporates guidelines from the world’s leading impact and sustainable accounting bodies. Our approach will be guided by
Intentionality
For every impact investment, Dream creates an impact plan that identifies multiple pathways to impact, each of which is aligned with a UN SDG and has a measurable outcome with key performance indicators.
Measurement
For each pathway, impact will be scored according to various dimensions. We intend to measure our impact efforts in a repeatable, systematic way, consistent with broadly recognized sustainability accounting standards.
Verification
Our processes and our Dream Impact Management System will be verified by a recognized independent firm.
Dream Impact Management System
Dream’s impact pathways are the internal system we use to measure the impact each investment creates on a consistent basis across the portfolio. They allow us to understand, evaluate, and effectively communicate the impact we are generating.
Primary
Primary pathways are the methods in which Dream intends to provide positive impact, each of which is aligned with a UN SDG and has a measurable outcome with key performance indicators.
Secondary
Secondary pathways are an extension of our impact pathways, and they are meant to further illustrate the benefits that our assets have on individuals, families, and the communities within which we operate.
Negative
Negative pathways are the negative externalities that Dream’s business activities may have on people and the environment.
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Investor Inquiries
Dream Impact Trust 30 Adelaide Street East, Suite 301, Toronto, ON M5C 3H1Transfer Agent
Computershare Investor Services 100 University Avenue, 8th Floor, Toronto, ON M5J 2Y2Team
Management Team
Governance
We are committed to sound and effective corporate governance. Our goal is to not only meet the requirements established by securities laws and regulators but also to uphold the spirit of “good corporate governance” and we always strive to communicate in an open, honest and transparent manner.
Trust Board
GP Board
Committees
The Trust Board and GP Board believe that their committees assist in the effective functioning of the Boards and help ensure that the views of Independent Trustees & Directors* are effectively represented.
Independent Trustee or Director
A Trustee or Director that is independent within the meaning of NI 58–101. An Independent Trustee or Director is one who is not an employee or executive officer of Dream and who is free from any direct or indirect relationship which could, in the view of the Board, be reasonably expected to interfere with independent judgment.
Audit Committee of the Trust Board
Audit Committee of the GP Board
Governance, Compensation and Environmental Committee
Charters, Policies and Declaration of Trust
The Trust is committed to sound and effective corporate governance. Our goal is to not only meet the requirements established by securities laws and regulators but to also uphold the spirit of ‘good corporate governance.’
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