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.
Diverse portfolio of high-quality real estate assets
$749.6Min total assets as at June 30, 2022.
$9.31net asset value as at December 31, 2021.(1)(updated annually)
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Dream Impact Trust
Dream Impact Trust focuses on investments that generate strong financial returns and positive social and environmental impacts.
The Trust is a real estate impact investing vehicle that targets projects that create measurable positive and lasting impacts on communities and the environment, while achieving attractive market returns. The Trust’s underlying portfolio is comprised of exceptional real estate assets reported under two operating segments: development and recurring income.
The Objectives of the Trust are to:
- Create positive and lasting impacts for all our stakeholders through our three impact verticals: attainable and affordable housing, inclusive communities and resource efficiency;
- Balance growth and stability of the portfolio, increasing cash flow, unitholders’ equity and net asset value (“NAV”) 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 development opportunities, concentrated in core geographic markets; and
- Provide predictable cash distributions to unitholders on a tax-efficient basis.
The Trust is managed by Dream Asset Management Corporation, an innovative real estate manager and developer primarily focused on the commercial and residential sectors in North America and Europe.
The Trust’s operating segments currently consist of the following:
- Development — comprised of participating mortgages receivable, a hospitality asset under redevelopment, and direct and indirect investments in residential and mixed-use developments; and
- Recurring income — comprised of a portfolio of office and commercial real estate income properties in the Greater Toronto Area (“GTA”) and interest-paying mortgages and corporate loans.
With our enhanced focus on impact investing, we are aligning all of our efforts around our core mission — building better communities for people to live, work, and play in — which will result in a better investment for our unitholders.
- Focus on Impact Investments that generate both strong financial returns and provide positive social and environmental impacts in our communities.
- Invest in Hard Assets. The Trust invests in hard assets such as real estate development, real estate lending and real estate. The tangible nature of real estate assets makes impact investments more easily measurable.
- Employ Experienced Asset Manager with a Strong Track Record. Dream (the Trust’s asset manager) has always believed in building better communities and over the last two decades, its projects have not only been profitable but have also provided significant positive and measurable impacts to its communities and their residents.
- Flexible Structure. The Trust is not restricted by SIFT Legislation that applies to REITs and it is not required to comply with the regulations governing mortgage investment corporations. As a result, we seek to find opportunities in areas with limited competition to achieve higher risk-adjusted returns.
- Efficient Tax Structure. The Trust is a taxable SIFT trust which requires the Trust to pay tax at the entity level. Renewable power and real estate assets generate tax depreciation often sufficient to shelter their income and, as a result, distributions may exceed taxable income, resulting in a portion of such distributions being treated as a return of capital for tax.
Our Impact Portfolio
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.
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 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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If you have any questions or inquiries, please contact [email protected]
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: Attainable Housing, Inclusive Communities and Resource Efficiency. Our three impact verticals align with the universally recognized and accepted UN SDGs.
Environmental Sustainability and Resilience
Decarbonize real estate and reduce water and waste usage while also creating resilience against natural disasters and major climatic events.
Attainable and Affordable Housing
Invest in mixed-income communities that are transitoriented, located close to employment opportunities, and support an overall lower relative cost of living with high quality of life.
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
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.
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.
Our processes and our Dream Impact Management System will be verified by a recognized independent firm.
As a signatory to the Operating Principles for Impact Management, Dream is required to release an annual Disclosure Statement, which describes how each of the Impact Principles are integrated into Dream’s investment process, and the extent of alignment with each. Dream is also required to undergo an independent verification of the alignment of its Impact Management System with the Impact Principles at regular intervals. Dream has released its inaugural 2021 Disclosure Statement and results of its first verification – please click the links below:
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 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 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 pathways are the negative externalities that Dream’s business activities may have on people and the environment.
Financial Reports & Filings
- Financial Reports
- Regulatory Filings
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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.
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
The Audit Committee of the Trust Board is responsible for accounting and financial reporting practices and procedures, adequacy of internal accounting and financial reporting controls and procedures, and quality and integrity of financial statements of the Trust.
The full responsibilities of the Audit Committee of the Trust Board are set out in a written charter, which is reviewed annually by the Board. The charter is available for review under the Charters and Policies section.
Applicable law and the Declaration of Trust requires the Board to have an Audit Committee consisting of at least three Trustees, each of whom must be independent and “financially literate” within the meaning of NI 52-110.
Audit Committee of the GP Board
The Audit Committee of the GP Board is responsible for:
- monitoring Dream Impact Master LP’s systems and procedures for financial reporting and internal controls and the performance of the external auditors;
- recommending to the GP Board the firm of chartered professional accountants to be nominated for appointment as the external auditor; and
- approving the assignment of any non-audit work to be performed by the external auditor.
The full responsibilities of the Audit Committee of the GP Board are set out in a written charter, which is reviewed annually by the Board. The charter is available for review under the Charters and Policies section.
Applicable law requires the GP Board to have an Audit Committee consisting of at least three Directors, each of whom must be independent and “financially literate” within the meaning of NI 52-110.
Governance, Compensation and Environmental Committee
It is the responsibility of the Governance, Compensation and Environmental Committee, in consultation with the Chair of the GP Board, to:
- assess from time to time the size and composition of the GP Board and the committees of the GP Board;
- review the effectiveness of the GP Board’s operations and its relations with Dream, as asset manager;
- organize an orientation program for new Directors;
- assess on not less than an annual basis the performance of the GP Board, the committees of the GP Board and individual Directors;
- review from time to time the statement of corporate governance practices;
- review the environmental state of any real property investments;
- establish policies and procedures to review and monitor the environmental exposure; and
- review and recommend on an annual basis the compensation for the Directors.
The full responsibilities of the Governance, Compensation and Environmental Committee are set out in a written charter, which is reviewed annually by the Board. The charter is available for review under the Charters and Policies section.
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.’
News & Events
- Press Releases