trending Market Intelligence /marketintelligence/en/news-insights/trending/KgXOKybKOB-kx1VV6PCj2A2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Dream Global launches bought-deal offering to fund German property buy

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

Dream Global launches bought-deal offering to fund German property buy

Dream Global REITplans to raise roughly C$85.1 million in a bought-deal offering, which it plansto use to fund the acquisition of two office properties in Germany and redeem its5.5% convertible debentures.

The offering of 9,450,000 units is priced at C$9.00 per unit.It also carries a 30-day overallotment option for underwriters to buy up to 1,417,500additional units. If the overallotment is exercised in full, the offering's grossproceeds would total roughly C$97.8 million.

The company expects the offering to close on or about Aug. 5,pending the approval of the Toronto Stock Exchange and other customary conditions.

Dream Global said it is in "exclusive or advanced"talks to buy the German properties for €105.6 million, or C$151.5 million, representingan average going-in cap rate of roughly 7.6% and an AFFO yield of more than 11%.The assets, which cover about 955,800 square feet of gross leasable area in thecompany's target markets in Germany, have a weighted average occupancy of about99% and a roughly 7.8-year average term. The company will fund the acquisitions,which are expected to close in the fourth quarter, in part with the company's ongoingcapital recycling program.

The company expects to close on its purchase of the two assetsduring the fourth quarter.

Dream Global plans to fully redeem its 5.5% convertible unsecuredsubordinated debentures due July 31, 2018, with an aggregate principal amount ofroughly C$161 million. The company will fund the redemption also with net proceedsit expects to raise from planned refinancings of its assets.

If the property acquisitions are not consummated, the proceedsfrom the offering may be used for general trust purposes or future acquisitions.