Dream Unlimited Corp. Announces the Launch of the Dream Impact Fund for Private Investors
March 16, 2021 at 08:05 am EDT
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Dream Unlimited Corp. announced the launch of the Dream Impact Fund for private investors. Dream announced that in less than six months of fundraising, all conducted virtually, private capital business has successfully secured $136 million of commitments for the first close of Dream Impact Fund, one of the world's first open-ended funds dedicated exclusively to impact investing. Commitments were obtained from a broad investor base, comprising leading financial institutions, money managers and family offices. These include Oxford Properties Group, Scotiabank, TD, 1832 Asset Management on behalf of Dynamic Funds and Canadian Imperial Bank of Commerce as well as Dream Unlimited Corp., together with three family offices. Scotia Capital served as an advisor to the Fund. The Fund's impact strategy is consistent with Dream's three impact verticals, which are aligned with the United Nation's Sustainable Development Goals. The verticals include: Affordable and Attainable Housing-Investments in mixed-income communities that are transit oriented, located close to employment opportunities and offer a substantively lower cost of living relative to market; Inclusive Communities: Creating communities that generate positive social outcomes for under-supported groups, taking action to provide equal access to homes and opportunities for people who have traditionally faced barriers to access; and Resource Efficiency: Developing sustainable real estate that optimizes energy use, limits greenhouse gas emissions and reduces water use and waste.
Dream Unlimited Corp. is a Canada-based company, through its wholly owned subsidiary, Dream Asset Management Corporation, is a developer of office and residential assets in Toronto, owns assets in both Canada and the United States, and has an asset management business, inclusive of assets under management across four Toronto Stock Exchange listed trusts, its private asset management business and numerous partnerships. The Company develops land, residential and assets in Western Canada. Its segment includes recurring income and development. The Company has asset management and development management agreements with Dream Industrial REIT, Dream Residential REIT and various development partners. It is engaged in mixed-use developments in the Greater Toronto Area and National Capital Region, land, housing, retail/commercial, hospitality asset and multi-family rental developments in Saskatchewan and Alberta. Its projects include Distillery District, 262 Jarvis, Weston Common and 70 Park.