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Dream Impact 5 50 Convertible Unsecured Subordinated Debentures T.MPCT.DB

Alternate Symbol(s):  T.MPCT.DB.A

Dream Impact Trust is a Canada-based open-ended trust dedicated to impact investing. The Company operates through two segments: Development and investment holdings, and recurring income. The Development and investment holdings segment comprised direct and indirect investments in residential and mixed-use developments, a hospitality asset, and participating mortgage receivables. The Recurring income segment comprised a portfolio of commercial real estate income properties and multi-family rental assets in the Greater Toronto Area (GTA) and Ottawa/Gatineau, a utility asset, and interest-paying corporate loans. The Company is managed by Dream Asset Management Corporation (DAM).


TSX:MPCT.DB - Post by User

Post by InvestSmarteron Sep 21, 2024 3:45pm
144 Views
Post# 36234861

Q3 Expectations: Maple House, Aalto II, Brightwater, Sales

Q3 Expectations: Maple House, Aalto II, Brightwater, SalesThese are in lease up/occupancy, and will be going from a drag on financials to producing net income

Maple House = 770 Units at Canary Landing. Will be net positive this quarter, but will need 1 or 2 more quarters to be fully leased up and producing income at its full potential
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Aalto II = 148 Units at Zibi. This is at our Zibi development (where the new Ottawa Senators arena will be built). This is in lease up, and I expect this quarter is will be break even or slightly positive net income, then going to net income positive the next 2 quarters.

Common at Zibi = 188 Units at Zibi. This is at our Zibi development (where the new Ottawa Senators arena will be built). This is in lease up, and I expect this quarter is will be break even, then going to net income positive the next 2 quarters.

Brightwater Retail - 48,000 Square Feet was occupied in Q2, which will start producing rent in Q3-Q4
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Brightwater Towns - Occupancy on these townhouses will start in Q3-Q4, which will be a one time net income. I'm suspection most will be in Q4
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10 Lower Spadina sold in Q3 (confirmed by news release), and so did 349 Carlaw (I'm fairly sure, no real announcement other than Q2 expectations of closing date). This will generate around 32M in cash in Q3

Q3 is not going to be some crazy quarter where everything is flipped positige, so please do not get some crazy expectations. However, It will be a transitioning quarter. 3 New Rental Developments either turning profitable or start being profitable, 48,000+ of new rental leasing might start producing income (depending on free lease period timing), 100,000 square feet of office space GONE, and a clear path to being positive net income and distribution reinstatement. Buying companies that are going from the most hated as they were losing money while rates were rising, to positive net operating income, with massive tailwinds of interest rate drops, are a great way to get some capital gains IMO. NAV is over 400M, trading for under 100M Market Cap.

As noted before, this is not a trading stock. Liquidity is very low. Be prepared to hold, dont trade it. Its too hard to get in/out.

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