Dream Industrial REIT, Dream Asset Management, CPP Form C$3B Industrial-Focused JV

Dow Jones12-17 21:15

By Adriano Marchese

Dream Industrial Real Estate Investment Trust and Dream Asset Management are forming a joint venture with Canada's public pension provider to invest in industrial assets across the country.

The partners are putting in 1.1 billion Canadian dollars, roughly $800 million, in equity--C$1 billion from the Canadian Pension Plan, and C$100 million from Dream Asset Management--to buy about C$3 billion worth of industrial properties in major Canadian markets.

A subsidiary of Dream will be the asset manager for the JV and Dream Industrial's subsidiary will provide property management and leasing services.

As part of the agreement, the JV will buy 12 industrial properties from Dream Industrial, totaling 3.6 million square feet in Ontario, Quebec and Alberta, for C$805 million.

For the rest of the scope, the JV will also look to pursue value-add strategy focused on buying up assets with existing vacancy, near-term lease-rollover, larger capital investments, as well as intensification and redevelopment opportunities, they said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

December 17, 2025 08:15 ET (13:15 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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