Tricon focus on Toronto/CanadaTricon is committing most their development energy into Toronto area, for good reason. The surging immigration with a lack of rental housing. Rental rates have been rising fast.
Dream Impact (MPCT) has multiple partnerships with Tricon to build new developments. Most recently developed was Maple House (Canary Landing). Next is Birch House.
MPCT has been a monstrous land holder and developer in Toronto and Ottawa. All their holdings are focused in this area. MPCT has about 5,000 apartment units (at 100% project level) coming online in the next ~3 years. A total of about 24,000 apartments/condos in their pipeline. All high quality Toronto/Ottawa areas. Many will need partnerships with developers like Tricon.
MPCT is trading at about 20% of its NAV and a 9% yield. Forgotten? Check out Dream Investor Day Presentation, Dream Impact Presentation, and MPCT Q3 Report. The yield was recently cut (and still yield this high percent) to be sustainable as these new assets come online.
This is not a trade, but a buy and hold while getting paid IMO.
Goodluck. Congratulations on Tricon's announcement.