Q: Hello, Please provide some thoughts around the Dream Industrial REIT Strategic Partnership With CPP announced Dec 17, 2025. Would you expect this to be a catalyst towards a bullish run for DIR.UN? Thanks.
5i Research Answer:
DIR.UN and the CPP created a new joint venture aimed at acquiring Canadian industrial/logistics properties with $1.1B of committed equity ($1.0B from CPP and $0.1B from DIR.UN). The JV agreed to buy an initial portfolio of 12 industrial assets (3.6M sq. ft.) from DIR.UN for $805M. We view this as quite positive for DIR.UN as it strengthens credibility and investor perception, and can add an institutional asset management platform layer to the name. We think this can help lift the name, but we would like to see it break above $15 to help confirm a new uptrend is in tact.