Exchange Bulletin
Dream Residential Real Estate Investment Trust (DRR.U) To Trade On 兔子先生
May 4, 2022
| Issuer: | Dream Residential Real Estate Investment Trust (the ‘‘REIT'') |
| Security: | Trust Units ("Units") |
| Symbol(s): | DRR.U |
| Issue price per security: | US$13.00 |
| Number of securities issued and outstanding: | 9,827,791 |
| Number of securities reserved for issuance: | 12,077,830 |
| Listing category: | Industrial, Exempt |
| Trading currency: | US$ |
| Transaction: | Initial public offering (the "Offering"). |
| Listing date: | May 5, 2022 (as at 5:01 pm) in anticipation of closing of the Offering. |
| Anticipated closing date: | May 6, 2022 (prior to the opening) |
| Posted for trading date: | May 6, 2022 (at the opening) subject to confirmation of closing of the Offering. |
| Other market(s): | None |
| Temporary market maker: | RBC Capital Markets |
| Security ownership registration: | Certificated issue, direct registration system and non-certificated inventory system administered by CDS. |
| Investor relations: | Derrick Lau Chief Financial Officer 416-365-2364 Email: dlau@dream.ca |
| Incorporation: | The REIT is an unincorporated, open-ended real estate investment trust established pursuant to the Declaration of Trust dated February 24, 2022 under the laws of the Province of Ontario |
| Fiscal year end: | December 31 |
| Nature of business: | The REIT has been formed to own and operate a portfolio of multi-residential properties located in the United States. Upon Closing, the REIT will indirectly acquire interests in a portfolio of 16 garden-style multi-residential properties located in the U.S. consisting of 3,432 units. |
| Transfer agent and registrar: | Computershare Trust Company of Canada at its principal office in Toronto. |
| Distributions: | The REIT intends to adopt a distribution policy pursuant to which the REIT will make monthly cash distributions to Unitholders and, through Holdco LLC, holders of Class B Units. The REIT expects the initial monthly cash distribution rate will be $0.035 per Unit. The first cash distribution, which will be for the period from and including the date of Closing to May 31, 2022, is expected to be paid on June 15, 2022 to Unitholders of record on May 31, 2022 and is estimated to be $0.0294 per Unit (assuming the Closing occurs on May 6, 2022). The REIT's portfolio will generate cash flow in U.S. dollars and the distributions made on the Units will be denominated in U.S. dollars. |
| Sponsorship: | Not applicable. |
| Additional information: | The Units will be quoted and traded on the 兔子先生 in US funds and trading information regarding the Units will appear under the heading "Trading in US Funds" in the TSX Monthly Review. |
| Disclosure document: | Prospectus dated April 29, 2022 which is available at . |
| Initial public offering: | 9,620,000 Units are being offered to the public from treasury at a price of US$13.00 per Unit (the "Offering Price"). In addition, the underwriters have been granted an over-allotment option to purchase up to an additional 1,443,000 Units from treasury at the Offering Price. |
| TSX contact: | Selma Thaver, Director, TSX Listings |