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Dream Office Real Estate Investment Trust T.D.UN

Alternate Symbol(s):  DRETF

Dream Office Real Estate Investment Trust (the Trust) is an open-ended real estate investment trust. The Trust owns central business district office properties in various urban centers across Canada, with a focus on downtown Toronto. The Trust owns and manages 3.5 million square feet of office land in downtown Toronto. Its objectives include managing its business and assets to provide both yield and growth over the longer term. Its properties are located across Adelaide Place, Toronto; 30 Adelaide Street East, Toronto; 438 University Avenue, Toronto; 655 Bay Street, Toronto; 74 Victoria Street/137 Yonge Street, Toronto; 36 Toronto Street, Toronto; 330 Bay Street, Toronto; 20 Toronto Street/33 Victoria Street, Toronto; 250 Dundas Street West, Toronto; 80 Richmond Street West, Toronto; 425 Bloor Street East, Toronto; 212 King Street West, Toronto; 357 Bay Street, Toronto; 360 Bay Street, Toronto; 350 Bay Street, Toronto; 56 Temperance Street, Toronto; and 6 Adelaide Street East, Toronto.


TSX:D.UN - Post by User

Comment by Reece1986bon Aug 10, 2023 5:01pm
73 Views
Post# 35582665

RE:RE:RE:60m for NCIB

RE:RE:RE:60m for NCIBWe could sell DIR to pay down unhedged credit facilities. I view reducing Dream Office debt as a hedge (that we are admittedly paying for by no longer profiting from DIR unit distributions and appreciation) against recession, rising bond yields and/or wider credit spreads, U.S. office refinancing problems occurring and spreading to Canada, or whatever other risk may lurk out there now or at some future date which, were it to materialize, we would be happy in that event to have reduced our debt. Essentially reducing a bit of upside to protect against some downside if things get really ugly. I'm assuming the office assets are largely illiquid and the DIR units are the only way we can meaningfully pay down debt. We could certainly sell some office properties if possible as an alternative to selling the DIR units.
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