About

Dream Office REIT is an unincorporated, open-ended real estate investment trust that owns 17.2 million square feet of high-quality, well-located and attractively priced business premises in urban centres across Canada.

Our Objectives

We are committed to:

  • managing the business to provide growing cash flow and stable and sustainable returns by adapting our strategy and tactics to changes in the real estate industry and economy;
  • building and maintaining a stronger, more flexible and resilient balance sheet;
  • improving the overall quality of our portfolio by investing in key assets and selectively disposing of non-core assets with lower potential for long-term income growth; and
  • maintaining a REIT that satisfies the REIT exception under the SIFT legislation in order to provide certainty to unitholders with respect to taxation of distributions.

Our Strategy

Dream Office REIT’s core strategy is to invest in high quality office properties in key markets across Canada, providing a solid platform for stable and growing cash flows by:

  • investing in high-quality office properties;
  • optimizing the performance, value and cash flow of the portfolio;
  • diversifying the portfolio to mitigate risk; and
  • maintaining and strengthening our conservative financial profile.

Property Management

Dream Office Management Corp. provides real estate services – including property management and leasing – to properties owned by Dream Office REIT as well as for other property owners.  This structure provides us with the opportunity to earn revenue and profits from existing and future third party management contracts. We also believe that real estate is an operating business that requires active management in order to enhance value, increase yield and reduce risk to investors.

Learn more about Dream Office Management

Management Team

Our team is made up of the industry’s smartest, most dedicated, knowledgeable and experienced real estate investment, portfolio management and financial professionals that have a proven track record of creating value.

 

Jane Gavan
P. Jane GavanChief Executive Officer
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Rajeev ViswanathanChief Financial Officer
Kevin Hardy
Kevin HardySenior Vice President, Portfolio Management
Andrew Reial
Andrew ReialSenior Vice President, Portfolio Management
Paul Skeans
Paul SkeansSenior Vice President, Portfolio Management
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Maud ChaudharySenior Vice President, Portfolio Management – National Services
Jane Gavan
Ms. Jane Gavan is the Chief Executive Officer of Dream Office REIT. She is also President, Asset Management of Dream Unlimited and Chief Executive Officer of Dream Global REIT, with more than 29 years of experience in the real estate industry. Since joining Dream in 1998, Ms. Gavan has played a key role in numerous transactions including the acquisition of Lehndorff Properties, the 2003 business restructuring that resulted in the creation of Dream Office REIT, Dream Office REIT’s $2.3 billion portfolio sale to GE Real Estate, and the initial public offering of Dream Global REIT (formerly Dundee International REIT). Prior to joining Dream, Ms. Gavan served as legal counsel for numerous companies including Oxford Properties Group, and Denison Mines Corp., and began her career in private law practice with Blake, Cassels & Graydon LLP, specializing in real estate and corporate finance. She earned an Honours Bachelor of Commerce degree from Carleton University and a Bachelor of Laws degree from Osgoode Hall, York University. Ms. Gavan currently sits on the board of directors of Dream Unlimited Corp., Dream Global REIT, Dream Alternatives Trust, the Women's College Hospital Foundation, and is on the Patron's Council for Community Living Toronto.
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Mr. Rajeev Viswanathan is the Chief Financial Officer of Dream Office REIT and has over 15 years of corporate finance, treasury, financial planning, IT and reporting experience. Rajeev is responsible for all financial matters related to Dream Office REIT. Prior to joining Dream Office REIT, Rajeev was Senior Vice President, Finance at Brookfield Asset Management. During his tenure with Brookfield, Rajeev worked in a series of progressively senior roles, including a role as the Senior Vice President, Corporate Finance at General Growth Properties (“GGP”), restructuring the finance and reporting functions following GGP’s emergence from bankruptcy in 2010. Mr. Viswanathan is a Chartered Professional Accountant, Chartered Accountant and a CFA charterholder, beginning his professional career at Ernst & Young LLP. Mr. Viswanathan also holds a Master of Accounting and a Bachelor of Mathematics degree from the University of Waterloo.
Kevin Hardy
Mr. Kevin Hardy is a Senior Vice President, Portfolio Management. He is responsible for creating, executing, and overseeing the portfolio management strategy and the performance for Dream Office REIT’s Eastern Canadian portfolio.  Working with the Leasing and Property Management teams, Kevin focuses on maximizing NOI, the strategic allocation of capital and enhancing collaborative working relationships with our partners.  Prior to joining the company in 2011, Kevin led leasing teams for the real estate arm of a major Canadian pension fund for both office and industrial asset classes across the GTA. Kevin has over 16 years of experience in the real estate industry. Kevin holds a Bachelor of Arts, Economics degree from Wilfrid Laurier University.
Andrew Reial
Mr. Andrew Reial is a Senior Vice-President, Portfolio Management. Prior to joining the company in March 2012, Mr. Reial was a Director of Asset Management at Whiterock REIT.  During Mr. Reial’s career, he has been involved in the asset management, acquisitions and dispositions of office, industrial, retail and multi-residential real estate investments for institutional investors.  Prior to his career in real estate, Mr. Reial was a consultant at a corporate restructuring and financial management consulting firm. Mr. Reial completed an Honours Bachelor of Science at McMaster University, an MBA from the Schulich School of Business and holds the Certified Management Accountant (CMA) designation.
Paul Skeans
Mr. Paul Skeans is a Senior Vice President, Portfolio Management for Dream Office REIT. Mr. Skeans’ 21 year career in the commercial real estate industry includes five years in the investment sales practice of CBRE and 11 years with GWL Realty Advisors doing both investments and asset management. Paul holds a BA from the University of Western Ontario and a Masters of Business Administration from the University of Calgary.
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Mr. Maud Chaudhary is Senior Vice President, Portfolio Management – National Services. Maud is responsible for Dream Office REIT’s platform-wide services and initiatives, including construction management, sustainability, national services as well as tenant relationships and satisfaction. Prior to joining Dream Office REIT, Maud was responsible for the direct management of Oxford’s downtown office portfolio as well managing strategic projects across Oxford’s office platform.  Prior to that, Maud was the Investment Officer for the Abu Dhabi Investment Authority, responsible for $10.0 billion of real estate assets across 15 markets in the Americas. Maud has 15 years of experience in the real estate industry and holds a Bachelor of Arts (Hon.) degree in Economics and Business from York University and is a Chartered Financial Analyst (CFA) charterholder.

Governance

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Dream Office REIT is 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.

Board of Trustees

Our board of trustees is made up of highly experienced, dedicated and knowledgeable professionals who each have expertise in all key areas of Dream’s businesses. Our board currently consists of 8 members:

Independent Audit Committee Governance, & Nominating Committee Compensation, Health and Environmental Committee Investment Committee
Detlef Bierbaum Y Member Member
Donald Charter Y Member Chair
Michael J. Cooper Chair
Joanne Ferstman Y Chair Member
Robert Goodall Y Member
Duncan Jackman Y Chair
The Hon. Dr. Kellie Leitch Y Member
Karine MacIndoe Y Member Member
Detlef Bierbaum
Detlef Bierbaum
Don Charter
Donald Charter
Michael Cooper
Michael J. Cooper
Joanne Ferstman
Joanne Ferstman
Rob Goodall
Robert Goodall
Duncan Jackman
Duncan Jackman
official photo 2016 (cropped)
The Hon. Dr. Kellie Leitch
MacIndoe, K_web
Karine MacIndoe
Detlef Bierbaum
Mr. Detlef Bierbaum is a corporate director with extensive experience in the banking and financial services industry. Mr. Bierbaum is currently a Member of the Supervisory Board with Sal. Oppenheim KAG, a fund management company in Köln, Germany. Prior to his retirement in March 2010, Mr. Bierbaum was a Member of the Supervisory Board with Bankhaus Sal. Oppenheim jr. & Cie and from 1991 to 2008, he held the position of Managing Partner with responsibility for asset management. In addition, from 2002 to 2008, he was responsible for investment banking of Bankhaus Sal. Oppenheim jr. & Cie. Prior to 1991, he was the Chief Financial Officer of the Nordstern Insurance Companies based in Cologne. He is a member of the Board of Directors of a number of companies in the asset management and banking sectors based in Germany, England, Luxembourg and the U.S. Mr. Bierbaum is a graduate of the Universities of Cologne and Munich where he studied commercial banking and business administration.
Don Charter
Mr. Donald Charter is a corporate director. Most recently he was the President, Chief Executive Officer and a Director of Corsa Coal Corp. from August 2010 to August 2013. Corsa is a metallurgical coal mining company listed on the TSX.V with operations in Pennsylvania. Mr. Charter has business experience in a number of sectors including mining (precious metals, base metals, iron ore, coal), oil & gas, real estate and financial services. He is a graduate of McGill University where he obtained degrees in Economics and Law. He began his career in Toronto where he built a successful commercial and M&A business law practice. In 1996 he joined the Dundee group of companies as an Executive Vice President with a number of capital markets related responsibilities. In 1998 he became the inaugural Chairman and Chief Executive Officer of the Dundee Securities group of companies and oversaw its growth from a start up to a major independent financial services company. In 2006, Mr. Charter left this group and focused his attention on his personal consulting and investment company, and as a corporate director primarily in the resource sector. Mr. Charter has extensive corporate governance experience and has sat on and chaired a number of audit, compensation and governance committees during his career as well as a number of special, independent and strategic committees in various corporate situations. He has completed the Institute of Corporate Directors, Directors Education Program and is a member of the Institute.
Michael Cooper
Mr. Michael J. Cooper is the Chairman of Dream Office REIT. He is also the President and Chief Responsible Officer of Dream Unlimited Corp. (“Dream”), and founder of Dream Asset Management Corporation (“DAM”), Dream Office REIT’s management services provider.  He has an extensive track record in the real estate industry dating back to 1986. He helped found DAM (formerly Dundee Realty Corporation) in 1996. Under his leadership, the business has grown to $15 billion of commercial real estate, residential land and housing development and renewable energy infrastructure assets under management. Among his accomplishments, Mr. Cooper is responsible for the formation of four TSX-listed investment trusts: Dream Office REIT, Canada’s largest office REIT; Dream Global REIT, a Canadian REIT investing in commercial real estate assets exclusively outside of Canada; Dream Industrial REIT, a pure-play industrial REIT in Canada; and, most recently, for the formation of Dream Hard Asset Alternatives Trust (“Dream Alternatives”), a mutual fund trust focused on hard asset alternative investments. He earned a Bachelor of Laws degree from the University of Western Ontario and a Master of Business Administration from York University.  Mr. Cooper currently sits on the board of directors of Dream Unlimited Corp., Dream Alternatives, Dream Global REIT, Dream Industrial REIT, Dream Office REIT, EL Financial Ltd., and Real Property Association of Canada (“REALpac”).
Joanne Ferstman
Ms. Joanne Ferstman currently serves as a corporate director, sitting on public company boards. Over an 18 year period and until her retirement in June 2012, Ms. Ferstman held a variety of executive positions with the Dundee Group of Companies. Most recently, Ms. Ferstman was the President and Chief Executive Officer of Dundee Capital Markets Inc., a full service investment dealer with principal businesses including investment banking, institutional sales and trading and private client financial advisory. Prior to January 31, 2011, Ms. Ferstman was Vice-Chair and Head of Capital Markets of DundeeWealth Inc., a diversified wealth management company. Prior to 2009, Ms. Ferstman was Executive Vice President and Chief Financial Officer of Dundee Wealth Inc. and Executive Vice President, Chief Financial Officer and Corporate Secretary of Dundee Corporation. In these senior financial roles, Ms. Ferstman was actively involved in all corporate strategy, including acquisitions and financings, and was responsible for all public financial reporting. In addition, Ms. Ferstman regularly represented Dundee Corporation on investee company boards and audit committees across various sectors. Prior to joining the Dundee Group of Companies, Ms. Ferstman spent four years as Chief Financial Officer for a national securities firm and five years at a major international accounting firm. Ms. Ferstman earned a Bachelor of Commerce and a Graduate degree in Public Accountancy from McGill University and is a Chartered Professional Accountant.
Rob Goodall
Mr. Robert Goodall is the President and founder of Canadian Mortgage Capital Corporation (“CMCC”), a major mortgage brokerage company with well-established lending and mortgage servicing operations. CMCC’s head office is in downtown Toronto, and the company has branch offices in Ottawa, Calgary, Edmonton and Vancouver. Mr. Goodall is also CEO of Atrium Mortgage Investment Corporation, a major non-bank lender, which has assets of approximately $535 million and is publicly traded on the TSX under the symbol ‘AI’. For the fifteen year period from 1996 to 2011, CMCC arranged financing on over $6 billion of real estate in Ontario. From 1997-1999, CMCC also had the exclusive mandate to originate mortgages, and manage the existing mortgage portfolio of a Toronto based trust company. Prior to founding CMCC, Mr. Goodall spent seven years with Royal Trust, where the last three years were served as National Managing Director of the Real Estate Finance Group overseeing a portfolio of $1.4 billion in commercial and multi-residential real estate loans. The Real Estate Finance Group had offices in Toronto, Montreal and western Canada. Mr. Goodall is a trustee of Dream Office REIT and Dream Industrial REIT, and director of a registered charity, Jump Math. Mr. Goodall has an HBA from the Ivey Business School, and an MBA from the Schulich School of Business.
Duncan Jackman
Mr. Duncan Jackman is Chairman and Chief Executive Officer of E-L Financial Corporation Limited, an investment and insurance holding company. Mr. Jackman oversees the company’s investments by sitting on the boards of directors of the subsidiaries and the other companies in which the company has significant shareholdings, including by serving as Chairman of Algoma Central Corporation and Chairman and President of Economic Investment Trust Limited and United Corporations Limited, two closed-end investment companies. He earned a Bachelor of Arts degree from McGill University.
official photo 2016 (cropped)
The Hon. Dr. Kellie Leitch is currently the Member of Parliament for Simcoe-Grey and served as the Minister of Labour and Minister of Status of Women of the Government of Canada from 2013-2015, serving on several Cabinet committees. Dr. Leitch is a pediatric orthopaedic surgeon and an associate professor of surgery in the Faculty of Medicine at the University of Toronto, Department of Surgery. She is the past Chair of the Ivey Centre for Health Innovation and Leadership. Dr. Leitch earned her Doctorate of Medicine from the University of Toronto in 1994, her MBA from Dalhousie University in 1998 and completed her Orthopaedic Surgery Residency at University of Toronto in 2001 and her Fellowship at Children’s Hospital of Los Angeles/University of Southern California in 2002. Dr. Leitch has served on the National Research Council of Canada, Genome Canada, the YMCA (GTA), CANFAR and is the founder of The Sandbox Project, a national organization with a mandate to bring together leading researchers, governments, charities, and industry to improve child and youth health in Canada. Dr. Leitch was selected as one of Canada’s Top 40 Under 40 for her work in both medicine and business in 2005 and in 2010, Dr. Leitch received the Order of Ontario for her work advocating for children.
MacIndoe, K_web
Ms. Karine MacIndoe is a corporate director with over 20 years of professional experience, having most recently spent over ten years at BMO Capital Markets as a Managing Director and Senior Equity Research Analyst covering Real Estate / REITs. During her tenure at BMO she was consistently ranked as an all-star (top three) analyst in the Brendan Wood Canadian Equity Research Survey. Prior work experience also includes M&A Advisory at NM Rothschild & Sons and management of sales planning at Canadian Airlines International. Ms. MacIndoe is also on the board of Killam Apartment REIT and has an MBA (Ivey Scholar) from the Richard Ivey School of Business with a Bachelor of Commerce (Honor Society) from the University of Calgary.

Read more about our Board of Trustees

Committees

Dream Office REIT’s Committees assist in the effective fun­c­tioning of the Board and help ensure that the views of Independent ­Trustees* are effectively represented.

 

The Board has established four committees:

  • Audit Committee;
  • Governance and Nominating Committee;
  • Compensation, Health and Environmental Committee; and
  • Investment Committee.

Independent Trustee

A Trustee that is independent within the meaning of NI 58–101. An Independent Trustee is one who is not an employee or executive officer of Dream Office REIT 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.

Read more about our Committees

Charters & Policies

Dream Office REIT 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’.

 

Read more about our Charters & Policies