Dream Global REIT announced the closing of its previously-announced transaction pursuant to which affiliates of real estate funds managed by Blackstone acquired all of Dream Global REIT’s subsidiaries and assets in an all-cash transaction valued at C$6.2 billion.
On closing of the Transaction, unitholders of the REIT received cash consideration of $16.79 per unit of Dream Global REIT and the Units were redeemed in accordance with certain amendments to the REIT’s Declaration of Trust.
The completion of the Transaction also included a separation of Dream Asset Management Corporation (a subsidiary of Dream Unlimited Corp.) from its role as external asset manager to the REIT.
With the completion of the Transaction, the Units are expected to be delisted from the Toronto Stock Exchange at close of business tomorrow. Trading of the Units on the Frankfurt Stock Exchange is expected to be suspended on the same day, with definitive delisting to follow in due course.
The REIT intends to apply to cease to be a reporting issuer under applicable Canadian securities laws.