Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at March 31, 2021, Dream Industrial REIT owns and operates a portfolio of 186 industrial assets (280 properties) comprising approximately 28.8 million square feet of gross leasable area in key markets across North America and a growing presence in strong European industrial markets. Dream Industrial REIT’s objective is to continue to grow and upgrade the quality of its portfolio and to provide attractive overall returns to its unitholders.
Modern, Functional and Well Located Assets
Our assets by building type
Across our regions, our portfolio consists of distribution, urban logistics and light industrial buildings.
As at March 31, 2021, our investment property value by building type allocated by region is as follows (all dollar amounts in these charts are presented in millions)*
Highly functional big-bay buildings located in close proximity to airports and major transportation corridors, catering to e-commerce and logistics tenants.
Small to mid bay properties located close to major population centres and ideally suited to meet last mile distribution needs.
Mid to large bay assets where tenants have typically invested significant amounts capital and are committed to the space.
Geographically Diverse Portfolio
$3.6B Total Investment Properties Value
$2.5B 69% of investment properties value
Exceptionally well-located urban portfolio located mostly in the Greater Toronto Area, Greater Montreal Area, and Calgary
$0.6B 17% of investment properties value Europe
Mid-to-large bay distribution facilities located within a day’s truck drive to over 50% of the North American population
$0.5B 14% of investment properties value
Urban portfolio located close to dense population centres, primarily in the Randstad region within the Netherlands, and Germany
Focused portfolio strategy
In Canada, our strategy is to acquire mid-to-large-bay properties primarily in the Greater Toronto Area and the Greater Montréal Area where we expect to benefit from increased user demand relative to supply of quality industrial product, and where in-place rental rates are generally below market rental rates and the outlook for rental rate growth is robust. The Trust is also targeting to increase scale in our existing sub-markets and add to our large urban logistics clusters.
In the U.S., our strategy is to acquire larger bay distribution properties in major markets within the Midwestern U.S., capitalizing on strong e-commerce demand for distribution assets, steady contractual rent growth and attractive going-in capitalization rates.
In Europe, our goal is to acquire mid-to-large-bay properties in major markets in the Netherlands and Germany. Across these markets there is growing demand for urban logistics space, increased user demand relative to supply of quality industrial product, attractive going-in capitalization rates and upside potential from growth in market rents.