Dream Industrial REIT is a national pure-play industrial REIT that owns high-quality light industrial properties across Canada.

Our Objectives

We are committed to:

  • creating better communities for Canadians to work in;
  • providing growing cash flow, and stable and sustainable returns;
  • building and maintaining a diversified and growth-oriented portfolio;
  • providing predictable, sustainable cash distributions on a tax-efficient basis;
  • capitalizing on internal growth, seeking accretive acquisition opportunities; and
  • maintaining a REIT that satisfies the REIT exception.

Our Strategy

Dream Industrial REIT’s core strategy is to grow our portfolio of light industrial properties across Canada, providing a solid platform for stable and growing cash flows by:

  • optimizing the performance, value and cash flow from our portfolio;
  • maintaining and strengthening our conservative financial profile;
  • growing and diversifying our portfolio to reduce risk; and
  • seeking accretive growth opportunities.

Property Management

Dream Industrial Management Corp. provides real estate services – including property management and leasing – to properties owned by Dream Industrial REIT.

Learn more about Dream Industrial Management


Asset Manager

Dream Industrial REIT is managed by Dream Asset Management Corp. (“Dream”), one of Canada’s leading real estate companies with approximately 800 employees and $14.0 billion of assets under management in North America and Europe.

expand-iconDream Overview Chart Web - Simple


Dream provides asset management services for four TSX listed funds:

Dream Office REIT – Canadian office REIT;

Dream Global REIT – the first Canadian REIT to invest exclusively outside Canada;

Dream Industrial REIT – Canada’s largest pure-play industrial REIT; and

Dream Alternatives Trust – providing investors the opportunity to access hard asset alternative investments.

Dream’s operating businesses include:

Homes by Dream – an award winning home and condominium developer;

Dream Development – Canada’s largest residential developer with ~10,000 acres of land;

Dream Centres – focused on developing retail shopping destinations in our residential communities; and

Renewable Power – we invest in renewable energy infrastructure.


For a complete overview of the asset manager, please see our Dream brochure.

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.

Brian PaulsChief Executive Officer
Lenis QuanChief Financial Officer
Joe IadelucaSenior Vice President, Portfolio Management
Nick StrylandSenior Vice President, Portfolio Management
Ashley PhillipsVice President, Portfolio Management

Mr. Brian Pauls is the Chief Executive Officer of Dream Industrial REIT. Mr. Pauls  also serves as the President of PAULS Corp LLC. He is an accomplished real estate professional with 23 years of industry experience, and was responsible for developing over eight million square feet of industrial properties in Canada and the U.S. He is well known on both sides of the border among the brokerage, banking, tenant and construction communities. Mr. Pauls has managed mixed-use real estate development through his role as President of PAULS Properties Corporation (the Canadian development company of PAULS), as well as President of Gateway Business Park, LLC (a 1,200-acre mixed-use business park in Denver, Colorado). Mr. Pauls has a Bachelors degree in Economics and Business from Westmont College and a Masters degree in Real Estate and Construction Management from the University of Denver.

Ms. Lenis Quan is the Chief Financial Officer of Dream Industrial REIT with 20 years of executive experience. Prior to joining Dream, Ms. Quan was the Chief Financial Officer of Gazit America, a publicly traded real estate investment company which was privatized by Gazit-Globe. Prior to being with Gazit America, Ms. Quan worked at Brookfield Asset Management for approximately ten years in a number of progressive executive finance positions. Ms. Quan is a Chartered Professional Accountant and started her professional career with Deloitte LLP. Ms. Quan has both a Bachelor’s degree and a Master’s degree in Accounting from the University of Waterloo.
Mr. Joe Iadeluca is the Senior Vice President, Portfolio Management for Dream Industrial REIT, Quebec and Eastern Canada. Prior to joining Dream he was Director of Quebec Equity Operations for GE Capital Real Estate for over five years. Prior to that, Mr. Iadeluca worked for Dream Realty Management Corp. as Senior Vice President of Quebec for 10 years until the sale of Dream Office REIT’s Eastern Canada Portfolio to GE Real Estate in 2007. During his career, Mr. Iadeluca has worked for major Canadian real estate companies in various property and asset management capacities. Mr. Iadeluca obtained a Bachelor of Education degree from McGill University and a Master’s of Science degree from the University of Montreal.
Mr. Nicholas Stryland is Senior Vice President, Portfolio Management, Ontario Region for Dream Industrial REIT. Prior to joining Dream, Mr. Stryland was Director of Leasing with Orlando Corporation for seven years, responsible for the leasing of its 40 million square feet of Office, Industrial, Retail and Development Lands. Prior to that, Mr. Stryland worked for Canadian Real Estate Investment Trust, Colliers International, and Cushman & Wakefield in various leasing, property management, construction, development and acquisition roles. Mr. Stryland has a BBA from York University, and is currently completing his EMBA with a specialty in Real Estate Leadership with the Sandermoen School of Business, University of Fredericton.

Mr. Ashley Phillips is the Vice President, Portfolio Management for Dream Industrial REIT, Eastern Canada. Prior to joining Dream, Mr. Phillips was Executive Vice President and Chief Operating Officer of CANMARC REIT where he played an instrumental role in the company’s IPO, as well as helping to grow the asset base from $1B to $1.9B and delivering an 82% return to unitholders in two years.  Throughout his tenure with Homburg Canada, Mr. Phillips gained experience in most major markets across Canada, including eight years in Calgary. His career spans more than 25 years and includes various progressive positions in property management, leasing, construction, acquisitions and dispositions.  Mr. Phillips earned his Economics Degree from Acadia University and the RPA designations from BOMA International.




Dream Industrial 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

IndependentAudit CommitteeGovernance, Compensation & Environmental CommitteeExecutive Committee
Michael J. CooperChair
J. Michael KnowltonYMemberMember
Ben MulroneyYChair
Vicky SchiffYMember
Leerom SegalYMember
Vincenza SeraYMember
Sheldon WisemanYChair
Michael J. Cooper
J. Michael Knowlton
Ben Mulroney
Vicky Schiff
Leerom Segal
Vincenza SeraChair
Sheldon Wiseman
Mr. Michael J. Cooper is the President and Chief Responsible Officer of Dream, and founder of DAM, the asset manager of Dream Industrial REIT. 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 $14 billion of commercial real estate, residential development and renewable energy infrastructure assets under management. Among his accomplishments, Mr. Cooper is responsible for the formation of three TSX-listed real estate investment trusts: Dream Office REIT, Dream Global REIT, Dream Industrial REIT, and the formation of Dream Alternatives, a TSX-listed 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, Dream Alternatives Master GP, Dream Office REIT, Dream Global REIT, Dream Industrial REIT, and E-L Financial Corporation Limited.
Mr. J. Michael Knowlton is a corporate director and has over 25 years of experience in real estate. He retired from DAM, Dream Industrial REIT’s asset manager, in 2011 where he held the position of President and Chief Operating Officer of Dundee REIT (now Dream Office REIT). He joined DAM in 1998, holding various positions with DAM and Dundee REIT, before becoming President of Dundee REIT in 2006. Prior to that, he worked at OMERS Realty Corp. from 1990 until 1998 as Senior Vice President and Chief Financial Officer. Mr. Knowlton also serves on the board of Crombie REIT, Tricon Capital Corp. and Dream Global REIT and is a former trustee of True North Apartment REIT and Northwest Healthcare Properties REIT. Mr. Knowlton holds a Bachelor of Science degree in Engineering and a Master of Business Administration from Queen’s University. Mr. Knowlton is qualified as a Chartered Professional Accountant and holds an ICD.D designation from the Institute of Corporate Directors.
Mr. Ben Mulroney is a television anchor and producer and has written a nationally-syndicated column for the Sun Media Corporation, covering politics and current events. Mr. Mulroney is the anchor and producer of CTV’s flagship entertainment news program, ETALK, a position he has held since its debut in 2002. Mr. Mulroney graduated from Duke University in Durham, North Carolina, with a Bachelor of Arts degree in History and a focus on Political Science and earned a Bachelor of Civil Law from l’Universite Laval in Quebec City. While obtaining his law degree, Mr. Mulroney worked at a number of law firms, specifically Edelstein, Laird & Sobel, LLP in Los Angeles and Ogilvy Renault, LLP (now Norton Rose Fulbright Canada LLP), in Quebec City. He has worked as a National Ambassador for a number of charities, including the Salvation Army, UNICEF, WaterCan, and now the Cystic Fibrosis Foundation of Canada. In addition, Mr. Mulroney currently sits on the board of directors of ARHT Media, as well as various fundraising committees of Covenant House, Baycrest and the Shoebox Project for Shelters.
Ms. Vicky Schiff is the Co-Founder of MREC Management, LLC and its affiliate co-mingled open-ended fund Mosaic Real Estate Credit which is focused on origination and managing debt investments in the construction and redevelopment area. Ms. Schiff is a highly experienced and respected real estate executive whose investment career began in the early 1990s as an acquisitions and diligence executive for Summit Commercial/Highridge Partners in Los Angeles, where she worked on approximately $1 billion in real estate transactions. Ms. Schiff is a career entrepreneur, co-founding 5 firms over the past 22 years; including a self-storage company with over 100 employees, a $400+ million institutional real estate fund of funds, a boutique investment banking firm which raised over $6 billion for top-tier real estate and private equity firms; and an investment platform that invested in post-crisis distressed debt and assets in target markets across the United States. Ms. Schiff has been a frequent industry panelist and has spoken at institutional real estate, emerging manager and trustee fiduciary executive conferences. She has written for various publications and has appeared on Bloomberg TV. She has been named as one of the Most Powerful Women in Real Estate and one of Commercial Property News’ Rising Stars. She served a three-year term as a Commissioner for the Los Angeles City Employees’ Retirement System and served on its Investment Committee; served on the Board of Advisors of Vanir Construction Management; and served on the Board of Directors and Audit Committee of Dream from 2014-2017. In addition, she currently serves on the Board of Advisors of privately held Morgan Properties, a multi-family property owner/operator with over 45,000 units in the U.S. Ms. Schiff has been committed to service through various organizations; as a board member of Young Presidents Organization (YPO), YPO’s International Real Estate Network, YPO’s Women’s International Network, The Robert Toigo Foundation, The Lusk Center for Real Estate at USC and was the Founder of PoWRE, an organization of elite C-Suite women real estate investors in the U.S. and Europe. She earned a Bachelor of Science degree from the University of Southern California in 1988 and an MBA from The Anderson School of Management at UCLA in 1996.
Mr. Leerom Segal has an over 21 year track record for innovation in the digital space. He is President and Chief Executive Officer of Klick Health, a company he co-founded in 1997, in which role he is responsible for strategy, business development and public relations. Klick is the largest independent digital marketing firm in the world and was recently added to the World Economic Forum of Global Growth Companies to watch. Klick is recognized as one of the country’s 50 best managed companies, 50 best employers, and 50 fastest growing tech companies. Mr. Segal sits on a variety of boards including the Digital Health Coalition, True Patriot Love and Artbound. An accomplished entrepreneur, Mr. Segal launched his first company at age 12, sold his first business at age 14 and went on to become Chief Technology Officer of publicly traded Motion Works Group at age 16. Mr. Segal is a published author and sought after speaker on technology. In 2004, Mr. Segal was named to Profit Magazine’s Hall of Fame for being the youngest ever Chief Executive Officer of a Profit 100 company.
Ms. Vincenza Sera is an active corporate director who currently sits on the board of Investment Management Corporation of Ontario (IMCO) which manages over $50 billion in assets for various Ontario stakeholders. Prior to this she was Chair of the Ontario Pension Board for nine years. In addition to the public companies listed below, Ms. Sera currently sits on the Board of Directors of the Ontario Financing Authority. Ms. Sera was an investment banker with more than 25 years of experience in capital markets, corporate finance and corporate governance. She has held senior positions with National Bank Financial, First Marathon Securities and Canadian Imperial Bank of Commerce. Ms. Sera holds an MBA from the University of Toronto and is a graduate of the Directors Education Program (ICD.D).
Mr. Sheldon Wiseman is the President and Chief Executive Officer of Gistex Inc., a diversified, medium-sized real estate private equity company. He has held this position since 1996. From 2013 to 2014, Mr. Wiseman served as a director of Dream. From 2006 to 2009, Mr. Wiseman served as a trustee of InterRent Real Estate Investment Trust, a publicly traded real estate investment trust owning and managing rental apartments in Ontario. From 1996 to 1997, Mr. Wiseman was President of Dundee Realty and was involved in its start-up and establishment as a public company. From 1985 to 1996, he was the Vice President of Gistex Inc. From 1983 to 1985, he was a member of an audit team at the predecessor of PricewaterhouseCoopers, auditing real estate, manufacturing, finance and non-profit companies. He received his B.Comm from the University of Toronto in 1983 and his Chartered Accountant designation in 1985.

Read more about our Board of Trustees


Dream Industrial 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 three committees:

  • Audit Committee;
  • Governance, Compensation and Environmental Committee; and
  • Executive 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 Industrial 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 and Declaration of Trust


Dream Industrial 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 & Declaration of Trust