This press launch incorporates forward-looking info that’s primarily based upon assumptions and is topic to dangers and uncertainties as indicated within the cautionary notice contained inside this press launch. All greenback quantities are in Canadian {dollars} except in any other case indicated.

TORONTO, August 03, 2022–(BUSINESS WIRE)–Dream Industrial Actual Property Funding Belief (DIR.UN-TSX) (the “Belief” or “Dream Industrial REIT” or “Dream Industrial” or “we” or “us”) at this time introduced its monetary outcomes for the three and 6 months ended June 30, 2022. Administration will host a convention name to debate the monetary outcomes on August 3, 2022 at 10:00 a.m. (ET).

This press launch options multimedia. View the total launch right here: https://www.businesswire.com/information/house/20220802006129/en/

Acquisitions accomplished throughout Q2 2022.

HIGHLIGHTS

• Internet earnings was $171.5 million in Q2 2022, a 7.0% enhance when in comparison with $160.Three million in Q2 2021, primarily because of will increase in truthful worth changes to funding properties. The web earnings in Q2 2022 consists of web rental earnings of $68.7 million, truthful worth changes to monetary devices of $84.2 million and cumulative different earnings and bills of $18.6 million;

• Diluted funds from operations (“FFO”) per Unit⁽¹⁾ was $0.22 in Q2 2022, a 12.6% enhance when in comparison with Q2 2021, the place the diluted FFO per Unit was $0.19;

• Internet rental earnings was $68.7 million in Q2 2022, a 34.5% enhance when in comparison with $51.1 million in Q2 2021. Yr-over-year web rental earnings elevated by 49.5% in Ontario, 58.7% in Québec, 5.5% in Western Canada and 277.8% in Europe, primarily pushed by acquisitions and comparative properties web working earnings (“CP NOI”) (fixed forex foundation) progress;

• CP NOI (fixed forex foundation)⁽²⁾ was $46.Three million in Q2 2022, a 10.1% enhance when in comparison with $42.1 million in Q2 2021. The Canadian portfolio posted a year-over-year CP NOI (fixed forex foundation) progress of 11.7%, predominantly pushed by 12.4% and 15.6% CP NOI (fixed forex foundation) will increase in Ontario and Québec, respectively. The European portfolio noticed a 5.5% year-over-year CP NOI (fixed forex foundation) progress;

• Complete belongings had been $7.Zero billion in Q2 2022, a 15.0% enhance when in comparison with $6.1 billion in This fall 2021;

• Complete fairness (excluding LP B Items)⁽³⁾ was $4.Three billion in Q2 2022, a 23.7% enhance when in comparison with $3.5 billion in This fall 2021;

• Internet asset worth (“NAV”) per Unit⁽⁴⁾ was $16.64 in Q2 2022, a 21.5% enhance when in comparison with Q2 2021, the place the NAV per Unit was $13.69. The rise in NAV per Unit largely displays a rise in funding property values throughout the Belief’s portfolio as market rents proceed to develop and personal market demand for industrial belongings stays strong.

Story continues

The Belief continues to make vital progress on strategic initiatives to maximise natural and exterior progress drivers whereas sustaining a powerful and versatile stability sheet.

• Natural progress – Leasing momentum throughout the Belief’s portfolio stays strong and the Belief signed roughly 1.Four million sq. toes of renewals and new leases throughout its portfolio because the starting of Q2 2022, at a median rental unfold of 34% over prior or expiring rents. The Belief’s leasing momentum has resulted in a 40 foundation factors enhance in in-place and dedicated occupancy from 98.7% as at March 31, 2022, to 99.1% as at June 30, 2022. The Belief continues to anticipate robust rental charge progress as leases expire. As at June 30, 2022, estimated market rents throughout the Belief’s portfolio exceeded the common in-place base hire by over 20%.

• Growth pipeline – Development commenced on two initiatives over the quarter, on the Belief’s inaugural 154,00Zero sq. foot ground-up improvement in Caledon within the Larger Toronto Space (“GTA”) in addition to a 120,00Zero sq. foot growth in Montréal. The Belief is at the moment beneath building on over 680,00Zero sq. toes of initiatives throughout Canada and Europe and is within the closing phases of advancing the development of 800,00Zero sq. toes of initiatives within the close to time period. General, the Belief’s improvement and growth pipeline totals roughly 3.Four million sq. toes, positioned in land-constrained markets in Canada and Europe. In the course of the quarter, The Belief signed a lease at its 43,00Zero sq. foot growth within the GTA at a rental charge of $15.50 per sq. foot, leading to an unlevered yield on price of over 11%. The lease is anticipated to start in This fall 2022. Subsequent to quarter-end, the Belief accomplished a brand new lease for its 120,00Zero sq. foot growth in Montreal leading to an anticipated yield on price of over 8%.

• Continued upgrading of portfolio high quality – Because the finish of Q1 2022, the Belief accomplished roughly $368 million of beforehand introduced acquisitions in Canada and Europe, which added practically 1.9 million sq. toes of income-producing belongings.

• Important stability sheet capability and ample liquidity – The Belief ended Q2 2022 with whole accessible liquidity⁽¹⁾ of $429 million. The Belief’s web whole debt-to-total-assets (web of money and money equivalents) ratio⁽²⁾ was 29.7% as at June 30, 2022, which offers over $500 million of stability sheet capability earlier than the Belief’s web whole debt-to-total-assets (web of money and money equivalents) ratio⁽²⁾ reaches the Belief’s goal within the mid-30% vary. Throughout Q2 2022, DBRS Morningstar confirmed the Belief’s BBB-mid funding grade credit standing.

FINANCIAL HIGHLIGHTS

“Dream Industrial’s Q2-2022 working outcomes with double digit FFO per unit and CP NOI (fixed forex foundation) progress proceed to showcase the standard and stability of our enterprise in addition to the inherent progress alternatives embedded in our portfolio,” mentioned Brian Pauls, Chief Govt Officer of Dream Industrial REIT. “Regardless of a risky financial backdrop, personal market demand for well-located industrial belongings continues to be robust and we proceed to efficiently execute on our strategic pillars of enhancing natural progress and bettering portfolio high quality, whereas sustaining a powerful and versatile stability sheet.”

ORGANIC GROWTH

• Strong leasing momentum at engaging rental spreads and strong contractual hire progress – Because the finish of Q1 2022, the Belief has signed roughly 1.Four million sq. toes of recent leases and renewals at a median unfold of 34%.

  • In Canada, the Belief signed roughly 1.1 million sq. toes of leases at a median unfold of 39%; and

  • In Europe, the Belief signed roughly 0.Three million sq. toes of leases at a median unfold of 11%.

The Belief has supplied a abstract of its latest leasing highlights beneath:

• The Belief signed two renewals for a mixed 125,00Zero sq. toes in Quebec whereas attaining greater than a 110% premium over the expiring rents with a median 3.3% annual contractual rental progress.

• In Ontario, the Belief signed three renewals for a mixed 115,00Zero sq. toes whereas doubling the hire and securing 3.5% annual contractual rental progress over the time period.

• The Belief signed a brand new lease with one in all Canada’s largest necessity retailers at its 43,00Zero sq. foot growth within the GTA anticipated to be accomplished in November 2022. The Belief achieved a rental charge of $15.50 with 3% annual contractual hire progress for a 10-year time period, which resulted in an unlevered yield on price of over 11%.

• Subsequent to quarter-end, the Belief signed a brand new lease at its 120,00Zero sq. foot growth in Montreal anticipated to be accomplished in Spring 2023. The Belief achieved a rental charge of $14.00 with 4% annual contractual hire progress for a 5-year time period, which is anticipated to lead to an unlevered yield on price of over 8%.

Along with robust rental spreads, the Belief continues so as to add contractual hire progress to its leases. In its Canadian portfolio, the present leases have embedded contractual hire progress of over 2.5%. Within the Belief’s European portfolio, roughly 90% of the leases are listed to the patron value index (“CPI”).

The Belief expects to attain robust rental charge progress over time because it units rents on expiring leases to market as market rents proceed to extend throughout the Belief’s working markets. In the course of the quarter, the estimated market hire of properties within the Belief’s portfolio elevated by 8% in comparison with March 31, 2022. As at June 30, 2022, present market rents exceed the common in-place base hire throughout the Belief’s portfolio by over 20%.

• Strong tempo of CP NOI (fixed forex foundation)⁽¹⁾ progress – CP NOI (fixed forex foundation) for the three and 6 months ended June 30, 2022 was $46.Three million and $85.1 million, respectively. For a similar intervals in 2021, CP NOI (fixed forex foundation) was $42.1 million and $77.Three million, respectively. This represents a rise of 10.1% for the three months ended June 30, 2022, and 10.0% for the six months ended June 30, 2022 in comparison with the prior 12 months comparative intervals.

  The expansion in CP NOI (fixed forex foundation) was led by a 12.4% and 15.2% year-over-year enhance in CP NOI (fixed forex foundation) in Ontario for the three and 6 months ended June 30, 2022, respectively. This was pushed primarily by rising rental spreads on new and renewed leases the place the common in-place base hire elevated by 9.2% and 9.4%, respectively, together with a 160 and 320 foundation factors enhance in common occupancy, respectively, for the three and 6 months ended June 30, 2022.

  In Québec, year-over-year CP NOI (fixed forex foundation) progress was 15.6% and 14.1% for the three and 6 months ended June 30, 2022, respectively. Because of vital rental spreads and contractual hire escalations from present leases, the common in-place hire elevated by 10.5% and seven.3% for the three and 6 months ended June 30, 2022, respectively

  In Europe, robust leasing exercise and CPI indexation resulted in a 4.6% and 5.1% enhance in in-place base hire which drove year-over-year CP NOI (fixed forex) progress of 5.5% and 5.6% for the three and 6 months ended June 30, 2022, respectively. Throughout Q2 2022, CPI indexation on European leases resulted in an roughly 2.5% enhance in comparative properties NOI progress.

• In-place and dedicated occupancy – The Belief’s leasing momentum has resulted in a 40 foundation factors enhance in in-place and dedicated occupancy from 98.7% as at March 31, 2022 to 99.1% at June 30, 2022. The Belief’s portfolio stays basically full and uncommitted expiries over the stability of 2022 characterize lower than 3.5% of the Belief’s portfolio.

• Internet rental earnings for the quarter and year-to-date – Internet rental earnings for the three and 6 months ended June 30, 2022 was $68.7 million and $134.Zero million, respectively, representing a rise of $17.6 million, or 34.5%, and $36.Three million, or 37.1% relative to the prior 12 months comparative intervals. Yr-over-year web rental earnings elevated by 49.5% in Ontario, 58.7% in Québec, 5.5% in Western Canada and 277.8% in Europe. The rise was primarily pushed by robust comparative properties NOI (fixed forex foundation) progress in 2022 and the affect of acquired funding properties in 2022 and 2021.

DEVELOPMENT UPDATE

The Belief’s improvement pipeline offers a big alternative so as to add high-quality belongings in core markets at engaging economics to the Belief. The Belief has roughly 3.Four million sq. toes of initiatives which can be at the moment underway or in planning phases.

The Belief is at the moment underway on 683,00Zero sq. toes of initiatives throughout the GTA, Larger Montréal Space, and Europe. With a complete anticipated price of roughly $114 million, the Belief expects unlevered yield on price of roughly 7.3% upon completion. The Belief expects all of those initiatives to be accomplished within the subsequent 9–12 months.

• The 8-acre Abbotside web site is attractively positioned in shut proximity to Freeway 410 in Caledon. The Belief is at the moment underway on the event of a 154,00Zero sq. foot logistics facility. Development has commenced with completion focused for the primary half of 2023 with a forecast unlevered yield on price of over 7%.

• The Belief is at the moment beneath building on a 241,00Zero sq. foot logistics facility in Germany which ought to enhance web site density by roughly 20%, with an estimated yield on price of 6.5%. Development commenced throughout Q2-2022 with completion anticipated in 2022. The Belief is in superior negotiations with a number of tenants to lease the whole growth.

• The Belief is advancing a 120,00Zero sq. foot growth of an present constructing in Montreal. Development commenced over the quarter and completion is anticipated in early 2023. Subsequent to quarter-end, the Belief finalized a lease for the whole growth which ought to lead to an unlevered yield on price of over 8%.

• The Belief not too long ago accomplished a 65,00Zero sq. foot growth comprised of two buildings at its not too long ago acquired 600,00Zero sq. foot high-tech and industrial cluster in The Hague, Netherlands. The expansions have been leased with occupancy beginning through the second quarter, with an unlevered yield on building prices of roughly 6.2%.

The Belief has a further 1.9 million sq. toes of initiatives at its share which can be within the closing phases of planning with focused completion within the coming 2 to three years. With a complete price of roughly $433 million, the Belief expects unlevered yield on price of roughly 6.0% on common.

Along with the above initiatives, the Belief is within the preliminary phases of planning for about 0.9 million sq. toes of near-term growth and redevelopment alternatives.

ACQUISITIONS

Because the finish of Q1 2022, the Belief acquired roughly $368 million of properties in Canada and Europe, which added practically 1.9 million sq. toes of income-producing belongings in addition to 19.5 acres of improvement land within the Balzac sub-market of Calgary.

• In Canada, the Belief acquired seven income-producing belongings totalling 491,00Zero sq. toes for $136 million. These belongings are primarily positioned within the GTA, and

• In Europe, the Belief acquired eight income-producing belongings totalling 1.Four million sq. toes for $221 million.

Acquisitions accomplished throughout Q2-2022

See Determine 1, Acquisitions accomplished throughout Q2 2022.

“We proceed to stability our technique of maximizing natural progress and targeted capital deployment,” mentioned Alexander Sannikov, Chief Working Officer of Dream Industrial REIT. “Industrial market fundamentals stay strong, and we proceed to see tight provide, low availability, and robust capital values. Our asset administration technique is concentrated on maximizing rental charge progress throughout all our markets and surfacing worth from our portfolio via our improvement pipeline.”

CAPITAL STRATEGY

The Belief continues to take care of vital monetary flexibility because it executes on its technique to develop and improve portfolio high quality. Over the previous 24 months, the Belief has efficiently transitioned its debt profile to be largely unsecured, with the proportion of secured debt⁽¹⁶⁾ dropping to 7.6% of whole belongings and to roughly 25% of whole debt⁽¹⁷⁾, in comparison with 47.6% one 12 months in the past. On a year-over-year foundation, the Belief’s common price of debt decreased 48 foundation factors from 1.49% in Q2 2021 to 1.01% in Q2 2022. Moreover, the Belief’s unencumbered asset pool totalled $4.9 billion as at June 30, 2022, representing roughly 77% of the Belief’s funding properties worth.

The Belief ended Q2 2022 with whole accessible liquidity⁽¹²⁾ of roughly $429 million together with money and money equivalents of $81.Three million, with a further $150 million of liquidity supplied by the accordion function on the Belief’s unsecured working facility. In the course of the quarter, DBRS Morningstar Restricted confirmed the Belief’s BBB-mid Funding Grade ranking, reflecting the standard and stability of the Belief’s portfolio and the energy and suppleness of the Belief’s stability sheet.

“We proceed to give attention to sustaining a powerful and versatile stability sheet,” mentioned Lenis Quan, Chief Monetary Officer of Dream Industrial REIT. “Our conservative monetary insurance policies have resulted in low leverage and vital stability sheet capability to execute on upgrading the standard of our portfolio. We proceed to take care of one of many strongest stability sheets within the Canadian REIT sector and are well-positioned to proceed to develop NAV and FFO per unit”.

CONFERENCE CALL

Senior administration will host a convention name to debate the monetary outcomes on Wednesday, August 3, 2022, at 10:00 a.m. (ET). To entry the convention name, please dial 1-866-455-3403 in Canada or 647-484-8332 elsewhere and use passcode 91266919#. To entry the convention name through webcast, please go to Dream Industrial REIT’s web site at www.dreamindustrialreit.ca and click on on the hyperlink for Information, then click on on Occasions. A taped replay of the convention name and the webcast shall be accessible for ninety (90) days following the decision.

OTHER INFORMATION

Data showing on this press launch is a choose abstract of economic outcomes. The condensed consolidated monetary statements and administration’s dialogue and evaluation for the Belief shall be accessible at www.dreamindustrialreit.ca and on www.sedar.com.

Dream Industrial REIT is an unincorporated, open-ended actual property funding belief. As at June 30, 2022, Dream Industrial REIT owns, manages and operates a portfolio of 257 industrial belongings (372 buildings) comprising roughly 46.Zero million sq. toes of gross leasable space in key markets throughout Canada, Europe, and the U.S. Dream Industrial REIT’s goal is to proceed to develop and improve the standard of its portfolio which primarily consists of distribution and concrete logistics properties and to supply engaging general returns to its unitholders. For extra info, please go to www.dreamindustrialreit.ca.

FOOTNOTES

1. CP NOI (fixed forex foundation) is a non-GAAP monetary measure. Essentially the most instantly comparable monetary measure to CP NOI (fixed forex foundation) is web rental earnings. The desk included within the Appendices part of this press launch reconcile CP NOI (fixed forex foundation) for the three and 6 months ended June 30, 2022 and June 30, 2021 to web rental earnings. For additional info on this non-GAAP measure, please discuss with the statements beneath the heading “Non-GAAP monetary measures, ratios and supplementary monetary measures” on this press launch.

2. FFO is a non-GAAP monetary measure. Essentially the most instantly comparable monetary measure to FFO is web earnings. The tables included within the Appendices part of this press launch reconcile FFO for the three and 6 months ended June 30, 2022 and June 30, 2021 to web earnings. For additional info on this non-GAAP measure, please discuss with the statements beneath the heading “Non-GAAP monetary measures, ratios and supplementary monetary measures” on this press launch.

3. Diluted FFO per Unit is a non-GAAP ratio. Diluted FFO per Unit is comprised of FFO (a non-GAAP monetary measure) divided by the weighted common variety of Items. For additional info on this non-GAAP ratio, please discuss with the statements beneath the heading “Non-GAAP monetary measures, ratios and supplementary monetary measures” on this press launch.

4. An outline of the dedication of diluted quantities per Unit may be discovered within the Belief’s Administration’s Dialogue and Evaluation for the three and 6 months ended June 30, 2022, within the part “Supplementary monetary measures and ratios and different disclosures”, beneath the heading “Weighted common variety of Items”.

5. “Variety of belongings” comprise a constructing, or a cluster of buildings in shut proximity to at least one one other attracting related tenants.

6. Consists of the Belief’s owned and managed properties as at June 30, 2022 and December 31, 2021.

7. Consists of the Belief’s share of fairness accounted investments as at June 30, 2022 and December 31, 2021.

8. Internet whole debt-to-total belongings (web of money and money equivalents) ratio is a non-GAAP ratio. Internet whole debt-to-total belongings (web of money and money equivalents) ratio is comprised of web whole debt (a non-GAAP monetary measure) divided by whole belongings (web of money and money equivalents) (a non-GAAP monetary measure). For additional info on this non-GAAP ratio, please discuss with the statements beneath the heading “Non-GAAP monetary measures, ratios and supplementary monetary measures” on this press launch.

9. Internet whole debt-to-normalized adjusted EBITDAFV is a non-GAAP ratio. Internet whole debt-to-normalized adjusted EBITDAFV is comprised of web whole debt (a non-GAAP monetary measure) divided by normalized adjusted EBITDAFV (a non-GAAP monetary measure). For additional info on this non-GAAP ratio, please discuss with the statements beneath the heading “Non-GAAP monetary measures and ratios and supplementary monetary measures” on this press launch.

10. Curiosity protection ratio is a non-GAAP ratio. Curiosity protection ratio is comprised of trailing 12-month interval adjusted EBITDAFV (a non-GAAP monetary measure) divided by trailing 12-month interval curiosity expense on debt and different financing prices. For additional info on this non-GAAP ratio, please discuss with the statements beneath the heading “Non-GAAP monetary measures and ratios and supplementary monetary measures” on this press launch.

11. Unencumbered funding properties is a supplementary monetary measure. For additional info on this supplementary monetary measure, please discuss with the statements beneath the heading “Non-GAAP monetary measures, ratios and supplementary monetary measures” on this press launch.

12. Obtainable liquidity is a non-GAAP monetary measure. Essentially the most instantly comparable monetary measure to accessible liquidity is money and money equivalents. The tables included within the Appendices part of this press launch reconcile accessible liquidity to money and money equivalents as at June 30, 2022, December 31, 2021 and June 30, 2021. For additional info on this non-GAAP measure, please discuss with the statements beneath the heading “Non-GAAP monetary measures, ratios and supplementary monetary measures” on this press launch.

13. Complete fairness (together with LP B Items) is a non-GAAP monetary measure. Essentially the most instantly comparable monetary measure to whole fairness (together with LP B Items) is whole fairness (per condensed consolidated monetary statements). The tables included within the Appendices part of this press launch reconcile whole fairness (together with LP B Items) to whole fairness (per condensed consolidated monetary statements) as at June 30, 2022, December 31, 2021 and June 30, 2021. For additional info on this non-GAAP measure, please discuss with the statements beneath the heading “Non-GAAP monetary measures, ratios and supplementary monetary measures” on this press launch.

14. Complete variety of Items contains 18.6 million LP B Items which can be categorized as a legal responsibility beneath IFRS.

15. NAV per Unit is a non-GAAP ratio. NAV per Unit is comprised of whole fairness (together with LP B Items) (a non-GAAP monetary measure) divided by the variety of Items. For additional info on this non-GAAP ratio, please discuss with the statements beneath the heading “Non-GAAP monetary measures, ratios and supplementary monetary measures” on this press launch.

16. Secured debt is a supplementary monetary measure. Please discuss with the statements beneath the heading “Non-GAAP monetary measures, ratios and supplementary monetary measures” on this press launch.

17. Complete debt is a non-GAAP monetary measure. Essentially the most instantly comparable monetary measure to whole debt is non-current debt. The tables included within the Appendices part of this press launch reconcile whole debt to non-current debt as at June 30, 2022, December 31, 2021 and June 30, 2021. For additional info on this non-GAAP measure, please discuss with the statements beneath the heading “Non-GAAP monetary measures, ratios and supplementary monetary measures” on this press launch.

Non-GAAP monetary measures, ratios and supplementary monetary measures

The Belief’s condensed consolidated monetary statements are ready in accordance with Worldwide Monetary Reporting Requirements (“IFRS”). On this press launch, as a complement to outcomes supplied in accordance with IFRS, the Belief discloses and discusses sure non-GAAP monetary measures and ratios, together with FFO, diluted FFO per Unit, CP NOI (fixed forex foundation), whole debt, web whole debt-to-total belongings (web of money and money equivalents) ratio, web whole debt-to-normalized adjusted EBITDAFV ratio, curiosity protection ratio, accessible liquidity, whole fairness (together with LP B Items) and NAV per Unit in addition to different measures mentioned elsewhere on this press launch. These non-GAAP monetary measures and ratios aren’t outlined by IFRS and would not have a standardized which means beneath IFRS. The Belief’s methodology of calculating these non-GAAP monetary measures and ratios could differ from different issuers and is probably not comparable with related measures offered by different issuers. The Belief has offered such non-GAAP monetary measures and ratios as Administration believes they’re related measures of the Belief’s underlying working and monetary efficiency. Sure extra disclosures such because the composition, usefulness and adjustments, as relevant, of the non-GAAP monetary measures and ratios included on this press launch have been integrated by reference from the administration’s dialogue and evaluation of the monetary situation and outcomes from operations of the REIT for the three and 6 months ended June 30, 2022, dated August 2, 2022 (the “MD&A for the second quarter of 2022”) and may be discovered beneath the sections “Non-GAAP Monetary Measures” and “Non-GAAP Ratios” and respective sub-headings labelled “Funds from operations (“FFO”)”, “Diluted FFO per Unit”, “Comparative properties NOI (fixed forex foundation)”, “Internet whole debt-to-total belongings (web of money and money equivalents) ratio”, “Internet whole debt-to-normalized adjusted EBITDAFV”, and “Curiosity protection ratio”, “Obtainable Liquidity”, “Complete fairness (together with LP B Items or subsidiary redeemable items”) and “Internet asset worth (“NAV”) per Unit”. The composition of supplementary monetary measures included on this press launch have been integrated by reference from the MD&A for the second quarter of 2022 and may be discovered beneath the part “Supplementary monetary measures and ratios and different disclosures”. The MD&A for the second quarter of 2022 is offered on SEDAR at www.sedar.com beneath the Belief’s profile and on the Belief’s web site at www.dreamindustrialreit.ca beneath the Buyers part. Non-GAAP monetary measures and ratios shouldn’t be thought-about as options to web earnings, web rental earnings, money flows generated from (utilized in) working actions, money and money equivalents, whole belongings, non-current debt, whole fairness, or comparable metrics decided in accordance with IFRS as indicators of the Belief’s efficiency, liquidity, money movement, and profitability.

Ahead trying info

This press launch could include forward-looking info inside the which means of relevant securities laws, together with statements concerning the Belief’s goals and techniques to attain these goals; the Belief’s expectations regarding the advantages to be realized from demand drivers for industrial area; the Belief’s portfolio and administration technique and anticipated advantages to be derived thereof, together with the Belief’s capacity to execute on its technique and anticipated progress alternatives; the Belief’s conservative monetary insurance policies and anticipated energy of its stability sheet; the anticipated graduation of sure leases and the common unfold thereof and the Belief’s capacity and expectations to attain robust rental progress over time because it units rents on expiring leases to market; our improvement and growth pipelines; anticipated occupancy; the Belief’s capacity to develop FFO per Unit and NAV per Unit; the Belief’s capacity so as to add high-quality belongings in core markets at engaging economics; the Belief’s improvement, growth and redevelopment plans, together with the timing of building and growth, prices, expectations concerning stabilization of expansions, and anticipated yields; anticipated debt and liquidity ranges; and related statements regarding anticipated future occasions, future leasing exercise, together with these related to person demand relative to produce of high quality industrial product within the Belief’s working markets, the power to lease vacant area, outcomes of operations, efficiency, enterprise prospects and alternatives, and the true property business typically. Ahead-looking info relies on a variety of assumptions and is topic to a variety of dangers and uncertainties, a lot of that are past the Belief’s management, which may trigger precise outcomes to vary materially from these which can be disclosed in or implied by such forward-looking info. These dangers and uncertainties embrace, however aren’t restricted to, basic and native financial and enterprise circumstances; employment ranges; mortgage and rates of interest and rules; uncertainties across the timing and quantity of future financings; uncertainties surrounding the COVID-19 pandemic; geopolitical occasions, together with disputes between nations, conflict and worldwide sanctions; the monetary situation of tenants; leasing dangers, together with these related to the power to lease vacant area; rental charges and the energy of rental charge progress on future leasing; and curiosity and forex charge fluctuations. The Belief’s goals and forward-looking statements are primarily based on sure assumptions, together with that the final economic system stays secure, rates of interest stay secure, circumstances inside the true property market stay constant, traditionally low charges and rising alternative prices within the Belief’s working markets stay regular, competitors for acquisitions stays in keeping with the present local weather and that the capital markets proceed to supply prepared entry to fairness and/or debt. All forward-looking info on this press launch speaks as of the date of this press launch. The Belief doesn’t undertake to replace any such forward-looking info whether or not on account of new info, future occasions or in any other case besides as required by regulation. Extra details about these assumptions and dangers and uncertainties is contained within the Belief’s filings with securities regulators, together with its newest annual info kind and MD&A. These filings are additionally accessible on the Belief’s web site at www.dreamindustrialreit.ca.

Appendices

Reconciliation of CP NOI (fixed forex foundation) to web rental earnings

The desk beneath reconciles CP NOI (fixed forex foundation) for the three and 6 months ended June 30, 2022 and June 30, 2021 to web rental earnings.

Appendices

Reconciliation of FFO to web earnings

The desk beneath reconciles FFO for the three and 6 months ended June 30, 2022 and June 30, 2021 to web earnings.

Reconciliation of obtainable liquidity to money and money equivalents

The desk beneath reconciles accessible liquidity to money and money equivalents as at June 30, 2022, December 31, 2021 and June 30, 2021.

Reconciliation of whole fairness (together with LP B Items) to whole fairness (excluding LP B Items)

The desk beneath reconciles whole fairness (together with LP B Items) to whole fairness (excluding LP B Items) as at June 30, 2022, December 31, 2021 and June 30, 2021.

Reconciliation of whole debt to non-current debt

The desk beneath reconciles whole debt to non-current debt as at June 30, 2022, December 31, 2021 and June 30, 2021.

View supply model on businesswire.com: https://www.businesswire.com/information/house/20220802006129/en/

Contacts

Dream Industrial REIT

Brian Pauls
Chief Govt Officer
(416) 365-2365
bpauls@dream.ca

Lenis Quan
Chief Monetary Officer
(416) 365-2353
lquan@dream.ca

Alexander Sannikov
Chief Working Officer
(416) 365-4106
asannikov@dream.ca