The Dream Group of Companies Publishes 2021 Sustainability Update Report

The Dream group of companies (“Dream”) comprised of DREAM UNLIMITED CORP. (TSX: DRM) (“Dream Unlimited”), DREAM IMPACT TRUST (TSX: MPCT.UN) (“Dream Impact”), DREAM OFFICE REAL ESTATE INVESTMENT TRUST (TSX: D.UN) (“Dream Office”), DREAM INDUSTRIAL REAL ESTATE INVESTMENT TRUST (TSX:DIR.UN) (“Dream Industrial”) and DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (TSX: DRR.U) (“Dream Residential”) are proud to announce the release of their 2021 Sustainability Update Report available here. This year’s report highlights Dream’s approach to Environmental, Social and Governance (“ESG”) and impact investing, outlines how Dream has further integrated its ESG Framework into its operations, increased its alignment to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and reports on our 2021 performance and initiatives.

“At Dream, we pride ourselves on being a leader in impact investing and sustainability combined with our commitment to be transparent and hold ourselves accountable.” said Michael Cooper, Chief Responsible Officer of Dream Unlimited. “In 2021, across the Dream group of companies, we made significant net zero commitments. We are now taking the actions needed to meet our targets, and as part of our commitment to transparency, we will report regularly on our progress towards achieving these goals.”

Highlights of the 2021 Sustainability Update Report include:

• Dream Unlimited, on behalf of the Dream group of companies, signed onto the United Nation’s Principles for Responsible Investment – an international network of investors working together to implement six key principles to ensure a sustainable global financial system; and joined the Net Zero Asset Managers Initiative, which represents asset managers around the world aligned with net zero GHG emissions targets of 2050 or sooner;
• Dream being certified as a Great Place to Work® which reflects its commitment to creating a positive work culture for all of its employees; Dream Unlimited’s achievement of being a two-time honouree of the Globe and Mail’s Report on Business "Women Lead Here" program that benchmarks gender parity (2020 and 2021);
• Dream Impact and Dream Office formalized their commitment to social procurement by establishing clear and measurable targets for utilizing their purchasing practices to generate social and economic value in the communities where they develop and manage real estate assets, and are already on track to meet these targets;
• Dream Industrial has issued $850 million in Green Bonds to date using its Green Financing Framework;
• Dream Residential leveraged Dream’s existing ESG framework to incorporate ESG in its culture and day to day operations since its formation, pre-IPO; and
• The Executive Roundtable, where members of Dream’s executive team discuss how ESG investments and achievements support their business and financial outcomes.

About Dream Unlimited Corp.

Dream Unlimited is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income generating assets in both Canada and the U.S., and has an established and successful asset management business, inclusive of $17 billion of assets under management across four Toronto Stock Exchange listed trusts, our private asset management business and numerous partnerships. We also develop land and residential assets in Western Canada. Dream Unlimited expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream Unlimited has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities. For more information, please visit: www.dream.ca.

About Dream Impact Trust

Dream Impact is an open-ended trust dedicated to impact investing. Dream Impact's underlying portfolio is comprised of exceptional real estate assets reported under two operating segments: development and investment holdings, and recurring income, 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. The objectives of Dream Impact 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; while generating attractive returns for investors. For more information, please visit: www.dreamimpacttrust.ca.

About Dream Office REIT

Dream Office is an unincorporated, open-ended real estate investment trust. Dream Office is a premier office landlord in downtown Toronto with over 3.5 million square feet owned and managed. We have carefully curated an investment portfolio of high-quality assets in irreplaceable locations in one of the finest office markets in the world. For more information, please visit our website at www.dreamofficereit.ca.

About Dream Industrial REIT

Dream Industrial is an unincorporated, open-ended real estate investment trust. As at September 30, 2022, Dream Industrial owns, manages and operates a portfolio of 258 industrial assets totalling approximately 46.5 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial’s objective is to continue to grow and upgrade the quality of its portfolio which primarily consists of distribution and urban logistics properties and to provide attractive overall returns to its unitholders. For more information, please visit www.dreamindustrialreit.ca

About Dream Residential REIT

Dream Residential is an unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. Dream Residential owns an initial portfolio of 16 garden-style multi-residential properties, consisting of 3,432 units primarily located in three markets across the Sunbelt and Midwest regions of the United States. For more information, please visit www.dreamresidentialreit.ca.

Forward Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as “objective”, “may”, “will”, “would”, “could”, “expect”, “believe”, “plan”, “target”, “project”, or “continue”, or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this press release may include, among other things, our strategies to generate attractive market returns for our unitholders or shareholders; our objectives and our strategies to achieve those objectives; our ability to achieve our impact and ESG goals; our commitment to be transparent and hold ourselves accountable, including our goal to report regularly on our ESG goals and other sustainability-related and net zero commitments; the involvement and participation of the Dream Entities in ESG and sustainability initiatives and related reporting, assessments and recommendations, including the United Nations’ PRI Reporting and Assessment Framework, the Taskforce on Climate-related Financial Disclosures, the Net Zero Asset Managers Initiative, and other initiatives; Dream’s commitment to create a positive work culture for its employees; Dream Impact’s and Dream Office’s commitment to social procurement, including in respect of attaining certain targets; Dream Unlimited’s expectation that it will generate more recurring income in the future as its development properties are completed and held for the long term. Forward looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond our control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk of adverse global market, economic and political conditions and health crises; risks inherent in the real estate industry; risks relating to investment in development projects; impact investing strategy risk; risks relating to geographic concentration; risks inherent in investments in real estate, mortgages and other loans and development and investment holdings; credit risk and counterparty risk; competition risks; environmental and climate change risks; risks relating to access to capital; interest rate risk; inflation or stagflation; risks associated with unexpected or ongoing geopolitical events, including disputes between nations, terrorism or other acts of violence, international sanctions and the disruption of movement of goods and services across jurisdictions; risks related to a potential recession in certain of the jurisdictions in which we operate and the effect inflation and any such recession may have on market conditions and lease rates; the risk of changes in governmental laws and regulations; tax risks; foreign exchange risk; acquisitions risk; and leasing risks. Our objectives and forward-looking statements are based on certain assumptions with respect to each of our markets, including the general economy; inflation; that no unforeseen changes in the legislative and operating framework for our business will occur; that we will meet our future objectives, priorities and growth targets; that we receive the licenses, permits or approvals necessary in connection with our projects; that we will have access to adequate capital to fund our future projects, plans and any potential acquisitions; that we are able to identify high quality investment opportunities and find suitable partners with which to enter into joint ventures or partnerships; that we do not incur any material environmental liabilities; interest rates; foreign exchange rates; conditions within the real estate market; and competition for and availability of acquisitions. All forward-looking information in this press release speaks as of the date of this press release. The Dream group of companies does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in the Dream group of companies’ filings with securities regulators, including each of their respective latest annual information forms and MD&As. These filings are also available at Dream Unlimited’s, Dream Impact’s, Dream Office’s, Dream Industrial’s, and Dream Residential’s websites at www.dream.ca, www.dreamimpacttrust.ca, www.dreamofficereit.ca, www.dreamindustrialreit.ca, and www.dreamresidentialreit.ca.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221117006122/en/

Dream Unlimited Corp.

Deb Starkman
Chief Financial Officer
(416) 365-4124
[email protected]

Kim Lefever
Director, Investor Relations
(416) 365-6339
[email protected]

Dream Impact Trust

Meaghan Peloso
Chief Financial Officer
416-365-6322
[email protected]

Kim Lefever
Director, Investor Relations
416-365-6339
[email protected]

Dream Office REIT

Michael J. Cooper
Chair and Chief Executive Officer
416-365-5145
[email protected]

Jay Jiang
Chief Financial Officer
416- 365-6638
[email protected]

Dream Industrial REIT

Brian Pauls
Chief Executive Officer
416-365-2365
[email protected]

Lenis Quan
Chief Financial Officer
416-365-2353
[email protected]

Alex Sannikov
Chief Operating Officer
416-365-4106
[email protected]

Dream Residential REIT

P. Jane Gavan
Chief Executive Officer
416-365-6572
[email protected]

Derrick Lau
Chief Financial Officer
416-365-2364
[email protected]

Scott Schoeman
Chief Operating Officer
303-519-3020
[email protected]