Dream Residential Real Estate Investment Trust

Dream Residential Real Estate Investment Trust, an open-ended, unincorporated trust, was formally constituted on February 24, 2022, in accordance with its Declaration of Trust under the legal framework of Ontario, Canada. All financial reporting is conducted in U.S. dollars and adheres to IFRS Accounting Standards, as issued by the International Accounting Standards Board, unless explicitly stated otherwise. The trust initiated its operations on May 6, 2022, concurrent with the successful completion of its initial public offering (IPO). This offering involved the issuance of 9,620,000 Trust Units, generating gross proceeds of $125.1 million, which amounted to $110.9 million after accounting for underwriter fees and associated transaction costs. The net capital raised from the IPO was primarily allocated to finance the cash portion of acquiring interests in an initial collection of 16 garden-style, multi-residential properties throughout the United States, totaling 3,432 units, alongside supporting the trust's general operational needs. Subsequently, on November 29, 2023, the REIT divested an investment property situated in Wichita, Kansas. Consequently, as of June 30, 2025, Dream Residential REIT holds a portfolio comprising 15 investment properties, collectively encompassing 3,300 residential units. These properties are designed to appeal to mid-market renters and are strategically concentrated within three key markets spanning the U.S. Sunbelt and Midwest regions. These "Primary Markets" include the Greater Dallas–Fort Worth, Greater Oklahoma City, and Greater Cincinnati areas.