Overview

Portfolio Summary ButtonDream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at September 30, 2020, Dream Industrial REIT owns and operates a portfolio of 266 industrial properties comprising approximately 26.6 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.

 

OUR ASSETS

Dream Industrial REIT owns and operates a portfolio of 172 assets (266 industrial buildings) totalling approximately 26.6 million square feet of gross leasable area in key markets across Canada, the U.S. and Europe as at September 30, 2020.

Assets (also known as investment properties) comprise a building, or a cluster of buildings in close proximity to one another attracting similar tenants. Many of our buildings form parts of larger clusters and business parks. As part of our asset management strategy, we approach these clusters as a single asset for the purposes of capital allocation, leasing and property management initiatives.

Our assets by building type

Across our regions, our portfolio consists of distribution, urban logistics and light industrial buildings.

  • Distribution buildings are highly functional large-bay buildings located in close proximity to major transportation corridors. Most tenants at these buildings have e-commerce operations or are in the third-party logistics industry.
  • Urban logistics buildings are small-to-mid-bay properties located close to major population centres and are ideally suited to meet last mile distribution needs. They are typically multi-let with shorter lease terms and lower average tenant size.
  • Light industrial buildings have a large footprint and are typically single-tenant. Tenants have typically invested significant capital at these properties and have signed long-term leases or have taken occupancy for a long period of time.

 

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.