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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 22, 2024 9:18pm
167 Views
Post# 36235736

Our Developments, with pictures

Our Developments, with picturesHere are our projects currently in development. Some of the best projects in the Toronto/Ottawa area that are available in public REIT. MPCT's properties are of extremely high quality.
 
Specifically Canary Landing, Brightwater, and Zibi/Lebreton. Quayside and 49 Ontario are also noted below.
 
Canary Landing Developments
Consisting of 4 major blocks. Maple House (Leasing Now), Birch House (Leasing Now), Cherry House (Q1 2026), and Oak House (not yet started)
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Maple House:
 770 Units, in lease up, should be fully occupied by year end. It was announced in a press release it was about 80% leased a month ago, and this is way ahead of schedule and amazing for such a large development.
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Birch House:
444 Units. Indigenous design, begins leasing October 1st.
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Cherry House:
855 Units, This is the largest project. Starts Leasing Q1 2026.
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Brightwater Master Planned Community
Brightwater is a large 72 acre development in Port Credit. This consists of Retail, Residential to Sell, and now being rezoned, Purpose Built Rentals. We have decided to change from building more condos to building more Purpose Built Rentals. These changes will be announced soon and will now accommodate over 8500 residents at brightwater. CMHC has made it very lucrative to build purpose built rentals, and this is the way MPCT is heading.
[img]https://experiencebrightwater.ca/ https://www.gta-homes.com/wp-content/uploads/brightwater-master-planned-04.jpg[/img]
 
The Mason:
158 Condos being built to sell. This will be completed in (early?) 2025, and will generate a net profit for the REIT.
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Brightwater Towns:
This is a development of Townhouses, which are being sold. 106 units will be sold in 2024 (Q3/Q4) and will generate us a Net Profit
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Brightwater retail
Brightwater has a large area for Retail leasing, and so far 48,000 square feet is occupied. There will be around 300,000 square feet of retail at this development.
https://renx.ca/brightwater-community-is-progressing-in-all-facets
 
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Forma:
Forma is a build to sell 2 high end Condo towers. The 1st tower is pre-sold, and in development. This project sold much better than anticipated and the 1st tower is expected to be completed in 2028. The foundation is poured and development is very active. This is a very profitable project, with around 50M in net income expected for the development.
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Zibi Master Planned Community
Zibi is our master planned community, which the Ottawa Senators just announced they plan on building their new Arena right next to it. Currently ZIBI has developed 3 rental buildings, some retail, and a couple office buildings. This project is a net zero community, which has attracted some government tenants. There will be more rental buildings starting here, but not announced yet (looking forward to the next one!). Lots of land to develop once our current rental buildings just completed get occupied.
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Aalto II at Zibi:
This is the 2nd rental Aalto building. It consists of 148 rental units. Aalto I is fully leased with 162 units. 
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Common at Zibi:
One of the first rental units of its kind, which has both traditional apartments and also Apartments in which you rent individual rooms in a multi room apartment with shared kitchen. This is a 188 unit rental building.
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Dream Lebreton:
Basically across the street from the new Ottawa Senators Arena coming, is the development "Dream Lebreton" Rental Apartments. This consists of 608 rental units. This is expected to complete in 2027.
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IVY Condos:
IVY Condos started closing in Q2, and should be completely closed in Q3, generating net income this quarter for MPCT.
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Soon to come:
 
49 Ontario:
Likely the most anticipated due to its near term material sale. 49 Ontario is 100% owned by MPCT, and we will be selling 75% of this building. This will remove around 110-130M of debt from MPCT's corporate balance sheet, depending on the final sale price. We will continue to own 25%, and it will develop 800,000 Sq Feet of Residential Rental Suites.  This will be a major milestone for MPCT and should mark the turning point for the REIT (less debt, less debt expense). Once we receive a partnership, we will commence development and obtain CMHC financing at the 10 year bond rate (under 3% today). This will no longer be on the Corporate balance sheet. Building should start in 2025, so the partnership should be announced soon.
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Quayside:
Quayside we won through a Waterfront Toronto bid. It is expected to start in 2025, and is another massive development. We also own the Victory Silos beside this development. Phase 1 of the development recently got the go-ahead to commence construction. 
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Scarborough Junction:
This is a very large development that was recently zoned. MPCT is not developing this, it was a passive investment. Harlo and Republic will sell this development, in which we should make a very nice profit on. There is no ETA given on when we should see this materialize. This is a 5.5M Square Feet of Residential, plus Retail. This just had its zoning approved in 2024. It will be a great day when this sells.
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Not investment advice. There is a lot more to MPCT than just these developments.  MPCT has very high quality assets. The volume on the REIT is low, so do not trade this REIT. It is a long term buy to hold for myself as I watch these developments materialize and MPCT begins to become net income positive and reinstates its distribution. There is no distribution cut risk, but there is a distribution reinstatement (upside) risk that will benefit the longs. Good Luck and enjoy your developments!
 
 
 
 
 

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