Dream Industrial REIT Announces Closing of $177.5 Million Secondary Bought Deal Offering

May 16, 2023

Dream Industrial REIT (DIR.UN-TSX) (the “Trust”) today announced that the previously announced secondary bought deal offering (the “Offering”) of 12,500,000 units of the Trust (the “Units”) by Dream Office REIT (D.UN-TSX) (the “Selling Unitholder”) at a price of $14.20 per Unit, for total gross proceeds to the Selling Unitholder of $177.5 million, has closed. All net proceeds were paid to the Selling Unitholder. The Trust did not receive any proceeds of the Offering. Upon closing of the Offering, the Selling Unitholder directly and indirectly owns and controls approximately 4.9% of the Trust’s total number of voting units.

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