DREAM INDUSTRIAL REIT Announces Expansion into the European Light Industrial and Logistics Market; Announces Additions to its Management Team
January 23, 2020 at 06:28 am IST
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DREAM INDUSTRIAL REIT (Trust) announced its expansion into the European light industrial and logistics market. This will allow the Trust to pair high quality, well located industrial properties that can generate higher yields and above average returns with an attractive cost of debt with rates that are over 200 bps lower on a comparative basis than North American financing to generate higher returns for its unitholders.
Mr. Alexander Sannikov and Mr. Bruce Traversy have joined the Trust in dedicated senior operating and investment roles. Mr. Sannikov joined Dream in 2008 and was previously Chief Operating Officer of Dream Global REIT and had oversight of Dream Global's operating performance, portfolio strategy and capital allocation. Previously, he was Senior Vice President, Commercial Properties of Dream and was involved in underwriting and managing Canadian commercial properties for Dream, including existing assets currently owned by Dream Industrial REIT. Mr. Traversy joined Dream in 1997 and was previously Senior Vice President, Head of Investments of Dream Global REIT and had oversight of Dream Global's investment strategy and its execution across Europe. Mr. Traversy also has 20 years of experience acquiring industrial assets in Canada, including existing assets currently owned by Dream Industrial REIT.
Dream Industrial Real Estate Investment Trust is a Canada-based open-ended real estate investment trust. The Company owns, manages and operates a portfolio of 322 assets totaling approximately 70.6 million square feet of gross leasable area in key markets across Canada, Europe and the United States. The Company owns and operates a diversified portfolio of distribution, urban logistics and light industrial properties across key markets in Canada, Europe and the United States. Across its regions, its portfolio consists of distribution, urban logistics and light industrial buildings: distribution buildings, urban logistics buildings and light industrial buildings. The Companyâs properties include Quayside, FORMA, Zibi, 212 King West, First Purpose Built Indigenous Hub, Brightwater, Alpine Park, Canary Landing, Canary District, The Distillery District, The Broadview Hotel, Brighton, Arapahoe Basin, Brighton Village Rentals and others.