TORONTO--(BUSINESS WIRE)--DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (TSX: DRR.U) (“Dream Residential REIT” or the “REIT” or “we” or “us”) announces that it has filed and obtained receipts for a final base shelf prospectus dated May 1, 2023. The final base shelf prospectus was filed with the securities regulatory authorities in each of the provinces of Canada. The final base shelf prospectus is valid for a 25-month period, during which time the REIT may offer and issue, from time to time, units, subscription receipts and debt securities, or any combination thereof, having an aggregate offering price of up to US$300 million.
Any issuance of securities under the final base shelf prospectus will require the filing of a shelf prospectus supplement that will include the specific terms of the securities being offered.
This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction. This news release does not constitute an offer of securities for sale in the United States and the securities referred to in this news release may not be offered or sold in the United States absent registration or an exemption from registration.
About Dream Residential REIT
Dream Residential REIT is an unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. The REIT owns an initial portfolio of 16 garden-style multi-residential properties, consisting of 3,432 units primarily located in three markets across the Sunbelt and Midwest regions of the United States. For more information, please visit www.dreamresidentialreit.ca.
Forward Looking Information
This news release may contain forward-looking information within the meaning of applicable securities legislation, including statements regarding future sales of securities pursuant to the final base shelf prospectus referenced above. Forward-looking information generally can be identified by the use of forward-looking terminology such as “will”, “expect”, “believe”, “plan”, or “continue”, or similar expressions suggesting future outcomes or events. Forward looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dream Residential REIT’s control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, risks inherent in the real estate industry; financing risks; interest and currency rate fluctuations; global and local economic and business conditions; risks associated with unexpected or ongoing geopolitical events; changes in law; tax risks; competition; environmental and climate change risks; insurance risks; cybersecurity; and uncertainties surrounding the COVID-19 pandemic and other public health crises and epidemics. Our objectives and forward-looking statements are based on certain assumptions, including that the general economy remains stable, there are no unforeseen changes in the legislative and operating framework for our business; we will have access to adequate capital to fund our future projects and plans and that we will receive financing on acceptable terms; inflation and interest rates will not materially increase beyond current market expectations; and geopolitical events will not disrupt global economies. All forward-looking information in this news release speaks as of the date of this news release. Dream Residential REIT does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in Dream Residential REIT’s filings with the securities regulators, including its latest annual information form and management’s discussion and analysis. These filings are also available at Dream Residential REIT’s website at https://dream.ca/investors/dream-residential-reit/.