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Dream Office REIT unloads 8-asset portfolio in Ontario for C$140M

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Dream Office REIT unloads 8-asset portfolio in Ontario for C$140M

Dream Office REIT sold its eight-property Kitchener-Waterloo portfolio in Ontario for gross proceeds of approximately C$140 million.

The sale of seven of the portfolio's eight properties has been completed, with the remaining property sale expected to complete in the first quarter.

The portfolio spans almost 1.1 million square feet of gross leasable area.

According to a Jan. 28 report from the Waterloo Region Record, the seven sold buildings make up about 40% of the total office space in downtown Kitchener. The remaining property is located in Waterloo. Europro Real Estate was identified as the buyer according to the report, which cited an email from Europro property manager Nelly Horovitz.