DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST FILES PRELIMINARY PROSPECTUS FOR INITIAL PUBLIC OFFERING OF UNITS

This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release.

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TORONTO, April 5, 2022 /CNW/ - DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST ("Dream Residential REIT" or the "REIT") announced today that it has filed, and obtained a receipt for, a preliminary long-form prospectus from the securities regulatory authorities in each of the provinces in Canada in connection with the proposed initial public offering (the "Offering") of units of the REIT ("Units"). The Offering is being underwritten by a syndicate of underwriters led by TD Securities Inc., together with Scotia Capital Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., National Bank Financial Inc., Canaccord Genuity Corp., Desjardins Capital Markets, Cormark Securities Inc., Echelon Wealth Partners Inc., iA Private Wealth Inc., Laurentian Bank Securities Inc. and Raymond James Ltd.

The REIT has applied to have its Units listed on the Toronto Stock Exchange (the "TSX") under the symbol "DRR.U". Listing is subject to the approval of the TSX in accordance with its original listing requirements. The TSX has not conditionally approved the REIT's listing application and there is no assurance that the TSX will approve the listing application. Completion of the Offering is subject to the receipt of customary approvals, including regulatory approvals.

The preliminary long-form prospectus is still subject to completion or amendment. Copies of the preliminary long-form prospectus will be available on SEDAR at www.sedar.com. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province of Canada until a receipt for the final prospectus has been issued.

The securities offered have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act"), as amended, or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the U.S. Securities Act, as amended) except pursuant to certain exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or to, or for the account or benefit of, U.S. persons.

About Dream Residential REIT

Dream Residential REIT is a newly created, unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. In connection with the Offering, the REIT will indirectly acquire interests in an initial portfolio (the "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.

Forward-Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans", or "continue", or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this press release may include, among other things, statements regarding the Offering and the acquisition of the Initial Portfolio and the listing of the Units on the TSX. 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, global and local economic and business conditions; uncertainties surrounding the COVID-19 pandemic; risks associated with unexpected or ongoing geopolitical events; risks inherent in the real estate industry; financing risks; and interest and currency rate fluctuations. 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; interest rates remain stable and geopolitical events will not disrupt global economies. All forward-looking information in this press release speaks as of the date of this press 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 preliminary long-form prospectus, including under the heading "Risk Factors" therein. 

SOURCE Dream Residential Real Estate Investment Trust

Dream Residential REIT, P. Jane Gavan, Chief Executive Officer, [phone], [email protected]; Derrick Lau, Chief Financial Officer, [phone], [email protected]; Scott Schoeman, Chief Operating Officer, [phone], [email protected]