Dream Global Real Estate Investment Trust Tr Unit DUNDF

Q1 Results

[Audax77]

https://www.dream.ca/global/wp-content/uploads/sites/5/2018/05/Press-Release-Q1-2018-Final.pdf

HIGHLIGHTS

• Growth initiatives and strong operating performance drive Dream Global’s strong Q1 results  
  • Fully diluted Funds from Operations (“FFO”) increased to 26.5 cents per unit in Q1 2018, an increase of 4 cents, or 20%, compared to Q1 2017, driven by investments in the Netherlands, Belgium and Germany, and strong operating performance;
  • Cash generated from operating activities increased to $45.3 million in Q1 2018, an increase of $33.9 million, or nearly 300%, compared to Q1 2017;
  • Comparative properties net operating income (“NOI”) increased by 3.2% year-over-year from Q1 2017, reflecting the continuing leasing momentum in the Trust’s portfolio and strong organic growth;
  • The Dutch portfolio continued its strong performance with same-property NOI growth of 7.6% compared to Q4 2017;
  • Overall occupancy rate increased by 70 basis points from Q4 2017 on a same-property basis driven by strong leasing  in the Trust’s value-add properties which had 460 basis point occupancy gain;
  • Rental spread increased to 5.8% in Q1 2018, an increase of 280 basis points from Q4 2017, as a result of strengthening leasing markets;
  • Net rental income increased by 82% in Q1 2018 from Q1 2017, reflecting both the Trust’s external growth initiatives and organic growth driven by occupancy gains and rental increases in the Trust’s portfolio;