Dream Global REIT reported earnings results for the fourth quarter ended December 31, 2017. For the period, the company reported cash generated from operating activities of $44.0 million compared to $17.2 million for the three months ended December 31, 2016. Funds from operations FFO for the three months ended December 31, 2017 was $45.1 million compared to $25.5 million for the three months ended December 31, 2016. On a per unit basis, basic FFO for the quarter ended December 30, 2017 was $0.26/unit, an increase of 6 cents compared to $0.20 per unit for the quarter ended December 31, 2016. On a fully diluted basis, FFO for the quarter ended December 31, 2017 was $0.25 per unit, an increase of 5 cents compared to $0.20/unit for the quarter ended December 31, 2016. Fully diluted FFO for the year ended December 31, 2017 increased by 15 cents, or 19%, to $0.95 per unit from $0.80 per unit. Comparative properties NOI For the three months ended December 31, 2017, the Trust's comparative properties NOI increased by 7.0% compared to fourth quarter of 2016. For the year ended December 31, 2017, comparative properties NOI increased by $4.4 million, or 3.1%, compared to the year ended December 31, 2016. Excluding the foreign exchange impact, comparative properties NOI increased by 2.8% in fourth quarter of 2017 compared to fourth quarter of 2016 and by 3.2% for the year ended December 31, 2017 compared to the year ended December 31, 2016. The year-over-year increase was a result of strong leasing activity and higher rents. Net rental income For the three months ended December 31, 2017, net rental income increased by 81% to $58.8 million compared fourth quarter 2016, reflecting the Trust's growth initiatives and strong leasing markets.

For the year, the company's FFO is expected to be in $1 to $1.02 range, a 5% to 7% increase from last year. In the company forecast, the company assumed a euro cap FX rate of 1.50 for the year, inclusive of the hedges in the company have in place. For every $0.01 change in the euro relative to the Canadian dollar, the company FFO is impacted by approximately $0.005. NOI in the range of EUR 175 million to EUR 180 million.