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Dream Industrial REIT enters $132M U.S. property deal as part of expansion plans

TORONTO — Dream Industrial REIT (TSX:DIR.UN) says it has entered into an agreement to acquire four industrial distribution properties in the United States for $131.5 million.

The Toronto-based real estate investment trust company says the deal involves industrial hubs in Memphis, Tenn., Orlando, Fla., and Charlotte, N.C and fits into its strategic expansion plans. 

It says the leasable properties comprise about 186,000 square metres and are occupied by a mix of large, blue-chip companies and medium-sized enterprises, including Coca-Cola Refreshments USA Inc. and Nissan North America.

Closing of the deal is expected to occur in stages between December and mid-January.

The Canadian Press

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