We are proud to announce that Dream Alternatives has changed its name to Dream Impact Trust (MPCT) and will focus 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 positive and lasting impacts on communities and the environment, while achieving market returns. It 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.
The objectives of the Trust are to:
- Provide investors with a portfolio of high-quality real estate development opportunities and alternative assets that generate both strong financial returns and provide positive social and environmental impacts in our communities;
- Balance growth and stability of the portfolio,
- Increasing cash flow, unitholders’ equity and NAV over time
- 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 — participating mortgages receivable, a hospitality asset under redevelopment, and direct and indirect investments in residential and mixed-use developments;
- Recurring income — interest-paying mortgages, mezzanine and corporate loans, and a portfolio of office and commercial real estate income properties in the Greater Toronto Area (“GTA”).
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. Please see Tax Deferral on Distributions
Dream’s asset management team is made up of the industry’s smartest, most dedicated, knowledgeable and experienced real estate investment, asset management and financial professionals that have a proven track record of creating value.
For a full list of everyone on the team, please click here.
Listed below are some of the senior members of the team who are involved in providing the Trust with asset management services:
Michael Cooper is the Portfolio Manager of Dream Impact Trust and serves as the President and Chief Responsible Officer of Dream, and founder of DAM. He is also the Chair and Chief Executive Officer of Dream Office REIT. He has an extensive track record in the real estate industry dating back to 1986. He helped found DAM in 1996 and continues to lead the business as President and Chief Responsible Officer. Under his leadership, the business has grown to approximately $8 billion of commercial real estate and residential development assets under management; in addition, Dream has also completed in excess of $36 billion of transactions. Among his accomplishments, Mr. Cooper is responsible for the formation of two TSX-listed real estate investment trusts: Dream Office REIT and Dream Industrial REIT and the formation of Dream Impact, a TSX-listed mutual fund trust focused on impact investments. Mr. Cooper was also involved in the formation of Dream Global REIT, previously a TSX-listed real estate investment trust, the assets and subsidiaries of which were sold in 2019. 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, Dream Office REIT, Dream Industrial REIT and E-L Financial Corporation Limited.
Ms. Meaghan Peloso is the Chief Financial Officer of the Trust, where she is responsible for corporate accounting, investor communications, financial reporting and tax strategy and planning. Ms. Peloso is also the VP & Chief Accounting Officer of Dream Unlimited Corp. and has held various positions within the organization since joining in 2014. Prior to joining Dream, Ms. Peloso worked in the Audit and Assurance practice at PricewaterhouseCoopers LLP. She obtained a Bachelor of Commerce degree from Carleton University before obtaining her CPA designation.
Mrs. Lindsay Brand is Chief Investment Officer of Dream and she is responsible for all the investments and capital allocation across Dream Unlimited and Dream Impact Trust. In addition to investments, Lindsay is responsible for the portfolio management for Dream Impact Trust and management oversight for all of our partnership developments. Lindsay joined Dream in 2011 and has held various positions throughout the organization prior to her current role. She has worked on acquisitions and asset management for Dream Office, Dream Global, Dream Impact Trust and now Dream Unlimited. Prior to joining Dream, Lindsay worked at CIBC in both corporate development and real estate finance. Lindsay graduated with distinction from the Honours Business Administration program at the Richard Ivey School of Business and also obtained her Master of Science of Real Estate Development in 2014 from Columbia University in New York City.
Mr. Jason Lester is the Vice Chair, Development, of Dream, primarily responsible for residential land development and urban development. He has 19 years of experience in multi-family residential, commercial and industrial asset and property management. Prior to joining Dream in 2004, Mr. Lester held the positions of Executive Vice President, Asset Management and Vice President, Acquisitions and Asset Management at Residential Equities REIT, where he was responsible for the property management division, acquisition activities and investment strategies for a portfolio of 11,000 suites.
Mr. Cooper is Director, Impact Investments for the Trust where he is responsible for screening and structuring investments that align with Dream’s social and environmental initiatives. This includes identifying and executing on acquisitions that fit the criteria, monitoring development progress, and managing portfolio composition and allocation. Mr. Cooper has also had instrumental roles in acquisitions, renewable power, commercial leasing, corporate, strategic finance as well as urban residential development during his career with Dream.
Ms. Kim Lefever is Director Investor Relations for the Dream entities. Prior to joining Dream, Ms. Lefever was Regional Sales Manager at ROI Capital where she was responsible for promoting and servicing the ROI Capital funds to investment advisors. She has several financial services designations including her CIM, and FMA.