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Dream Unlimited Corp.

Dream Unlimited Corp.'s Interest in Dream Impact Trust Increases Through Asset Management Fee Acquisition

Strategic Insights

— 1 min read

Dream Unlimited Corp.'s Dream Asset Management Corporation acquired 137,500 units of Dream Impact Trust in lieu of asset management fees, expanding its ownership stake from approximately 37.0% to 37.8% of the issued and outstanding units. This move allows Dream to maintain cash availability for Dream Impact and preserves the asset management fees payable to DAM for the period from January 1, 2024, to December 31, 2026.

Key Takeaways:

  • Dream Unlimited Corp.'s Dream Asset Management Corporation acquired 137,500 units of Dream Impact Trust, increasing its ownership stake from approximately 37.0% to 37.8% of the issued and outstanding units.
  • DAM's acquisition represents approximately 0.8% of the issued and outstanding units, with DAM and its joint actors owning 6,853,557 units after the acquisition.
  • The units beneficially owned by DAM and its joint actors include 18,856 units issuable to Mr. Michael J. Cooper, Chief Responsible Officer of DAM, under the Deferred Unit Incentive Plan of MPCT.
  • DAM agreed to accept the delivery of units in satisfaction of base management fees and acquisition fees payable to DAM pursuant to the Management Agreement for the period from January 1, 2024, to December 31, 2026.
  • DAM intends to evaluate its investment in units on a continuing basis and may acquire or decrease its holdings of units in the future.
  • Dream Unlimited Corp. is a leading developer of exceptional office and residential assets in Toronto, with an established and successful asset management business and a proven track record for innovation and investment opportunities.
  • Dream Asset Management Corporation is a wholly-owned subsidiary of Dream Unlimited Corp., acting as the asset manager for Dream Impact and Dream Impact Master LP.

Statistics:

  • 137,500 Units acquired by Dream Asset Management Corporation
  • 37.8% increase in ownership stake in Dream Impact Trust
  • 0.8% increase in ownership stake represented by acquired units
  • 6,716,057 Units owned by DAM and its joint actors prior to the acquisition
  • 6,853,557 Units owned by DAM and its joint actors after the acquisition
  • 18,856 units issuable to Mr. Michael J. Cooper under the Deferred Unit Incentive Plan of MPCT

Sources:

  • ENPublishing. "Dream Unlimited Corp.'s Interest in Dream Impact Trust Deemed to Have Increased." October 4, 2024.
  • National Instrument 62-103. Canadian Securities Administrators.

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