Fancy Business REIT Research Q1 2021 Investment Results and Powerful Year-Over-Year Increases

Saturday, November 6th 2021.

Fancy Business REIT Research Q1 2021 Investment Results and Powerful Year-Over-Year Increases

This pr release has forward-looking facts that is in relation to presumptions and is subject to danger and uncertainties as indicated inside the cautionary notice contained within this news release. All dollar amounts have been in Canadian dollars unless normally indicated.


TORONTO–( COMPANY LINE )–Dream Industrial REIT (DIR.UN-TSX) or (the “Trust” or “DIR” or even the “REIT” or “we”) now launched the monetary results for the 3 months concluded March 31, 2021. Management will coordinate a conference name to talk about the economic results may 5, 2021 at 11:00 a.m. (ET).

Diluted resources from operations (“FFO”) per device (1) got $0.19 in Q1 2021, a 10percent boost when comparing to Q1 2020;

Internet local rental money in Q1 2021 ended up being $47 million, a growth of 17.4%, versus $40 million in Q1 2020;

Comparative land NOI (“CP NOI”) (continuous money factor) (1) in Q1 2021 improved by 3.1%, in comparison with Q1 2020. The Canadian profile uploaded 2.0percent CP NOI development, mainly pushed by a 6.1% CP NOI escalation in Ontario. The U.S. portfolio CP NOI improved by 6.7% on a continuing currency basis, due to a rise in occupancy rates of 2.0per cent and a boost in in-place lease of 2.4%;

Financial belongings standards enhanced by $75 million in Q1 2021 reflecting larger markets rents, powerful leasing task in Ontario, and compression in capitalization prices mostly in Quebec; and

Ever since the conclusion of Q4 2020, the rely on has actually signed more or less 1.1 million square feet of the latest leases at a 19% spread-over before rents; and

On top of that, the rely on finished nearly 0.9 million sqft of renewals at a 20% spread over expiring rents since the conclusion of Q4 2020.

Persistent profile high-grading and enhanced economic freedom:

Over $350 million of purchases complete as of yet in 2021, including $41 million of income-producing assets and a 30-acre parcel of secure for $35 million during the better Toronto Area (“GTA”) that shut subsequent to quarter-end;

One more $155 million of acquisitions being fast, under contract or even in exclusivity in Trust’s target opportunities in Canada, the U.S., Germany, therefore the Netherlands; and

Strong stability layer – The Trust’s net total-debt-to-assets proportion (1) was actually 28.7% as at March 31,2021. The Trust will continue to boost focus towards operating with an unsecured financing product featuring its unencumbered asset pool totalling approximately $2.05 billion, symbolizing over 57per cent of expense residential properties benefits as at March 31, 2021.



90 days concluded

(in 1000s of dollars except per Unit amount)

Operating success

Resources from functions (“FFO”) (1)

Net local rental income

CP NOI (constant currency grounds) (1)(2)

Per Unit amounts

FFO – diluted (1)(3)

See footnotes at conclusion.


(in thousands of dollars)

Complete profile

Range assets (4)

Investments characteristics fair importance

Gross leasable neighborhood (“GLA”) (in scores of sq. ft.)

Occupancy price – in-place and committed (period-end)

Occupancy price – in-place (period-end)

Discover footnotes at conclusion.


(in thousands except per device amount)

Credit rating- DBRS

Internet complete debt-to-assets proportion (1)

Net complete debt-to-adjusted EBITDAFV (years) (1)

Interest plans ratio (times) (1)

Weighted typical face interest rate on obligations (period-end)

Weighted medium leftover phrase to readiness on debt (years)

Unencumbered assets (period-end) (1)

Offered liquidity (period-end) (1)

Net house value (“NAV”) per product (period-end) (1)

Discover footnotes at end.

“ We continue steadily to pay attention to increasing the quality of our very own collection with the addition of bigger buildings with top-quality clients, in stronger opportunities with considerable rental rates increases opportunities,” said Brian Pauls, ceo of fancy Industrial REIT. “ Thus far in 2021, we have currently closed or contracted over $500 million of property and our focus in the years ahead will continue to be expanding through top-quality purchases and developing best-in-class possessions on land we currently obtain and land acquired within our target markets. All In All, our very own objective should establish a more durable, important, and growing company for the unitholders.”


Purchases – Since the end of Q4 2020, the rely on have sealed on 12 income-producing assets and one land parcel across Canada, the U.S., and European countries totalling around $350 million, at a going-in weighted ordinary capitalization rates (“cap rate”) of 4.5percent. The income-producing investment acquisitions incorporate 1.8 million sq ft of high-quality, well-located and functional logistics space into Trust’s profile. Built on typical inside mid-2000s, https://www.rapidloan.net/installment-loans-nh/ these possessions are above the typical quality of the Trust’s profile, with an average obvious ceiling height of 30 ft. The purchases are funded by cash-on-hand and arises from the money providing finished in January 2021. Assuming control of 37.5per cent from the assets, and access to euro-equivalent loans at an all-in interest rate of 0.50percent, the Trust’s going-in levered give regarding income-producing assets is anticipated becoming more or less 6.5percent.

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