/NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION THROUGH
U.S. NEWS OR WIRE SERVICES/
TORONTO, Nov. 14,
2024 /CNW/ - Dream Summit Industrial LP (the
"Partnership" or "Dream Summit") announced today the closing of
its previously announced private placement of senior unsecured
debentures (the "Offering") consisting of C$250 million aggregate principal amount of
4.507% Senior Unsecured Debentures, Series F maturing on
February 12, 2031 (the "Series F
Debentures").
The Series F Debentures are rated BBB with a Stable Trend by
DBRS Limited. The Partnership intends to use the net proceeds from
the Offering to fund the Partnership's acquisition pipeline and for
general Partnership purposes.
The Series F Debentures have not been and will not be qualified
for sale to the public under applicable securities laws in
Canada and, accordingly, any offer
or sale of the Series F Debentures in Canada will be made on a basis which is exempt
from the prospectus requirements of such securities laws. The
Series F Debentures will not be listed on any stock exchange and
there will be no market for such securities. The Series F
Debentures have not been, and will not be, registered under the
United States Securities Act of 1933, as amended, or any state
securities laws and may not be offered or sold in the United States and may not be offered or
sold to other persons who are not residents of a province of
Canada.
About Dream Summit Industrial LP
Dream Summit is a limited partnership formed under the laws of
the Province of Ontario focused on
high-quality industrial properties located in key markets across
Canada with an objective of
achieving attractive total returns. For more information, please
visit https://dream.ca/investors/dream-summit-industrial-lp/.
Forward Looking Information
This press release may contain forward-looking information
within the meaning of applicable securities legislation.
Forward-looking information generally can be identified by the use
of forward-looking terminology such as "outlook", "objective",
"may", "will", "expect", "intend", "estimate", "anticipate",
"believe", "should", "plans", or "continue", or similar expressions
suggesting future outcomes or events. Some of the specific
forward-looking information in this press release may include,
among other things, statements regarding the intended use of
proceeds of the Offering. Such forward-looking information is based
on information currently available to management and is based on
assumptions, estimates and analyses made by management in light of
their respective experiences and perception of historical trends,
current conditions and expected future developments, as well as
other factors believed to be appropriate in the circumstances.
Statements that constitute "forward-looking information" are not
guarantees of future events or performance and, by their nature,
are based on management's current estimates and assumptions, which
are subject to significant risks and uncertainties, including, but
not limited to, risks associated with real estate ownership, the
rollover of leases, tenant concentration, geographic concentration
of properties, development projects, financing, interest rates,
economic environment risks, changes in law, competition in the
Canadian real estate markets, joint arrangements, environmental and
climate change-related matters, insurance, cyber security, adverse
global market, economic and political conditions, and public
health, reliance on the Partnership's asset manager, the
Partnership's credit rating and credit risk of the Partnership's
senior unsecured debentures and that the proceeds from the sale of
the Series F Debentures will be used as described herein.
Material factors and assumptions that were applied in drawing a
conclusion or making an estimate set out in the forward-looking
information may include, but are not limited to: interest rates;
access to equity and debt capital markets to fund, at acceptable
costs, the future growth of the Partnership and to enable it to
refinance debts as they mature; the Partnership's ability to
maintain occupancy and to lease or re-lease space at current or
anticipated rents; and the availability of purchase opportunities
for growth in Canada. Given the
current geopolitical environment, there is inherently more
uncertainty associated with any assumptions made. Management has
attempted to identify important factors that could cause actual
results, performance or achievements to be other than as expected
or estimated and that could cause actual results, performance or
achievements to differ materially from current expectations, but
there may be other factors not presently known or not presently
believed to be material that could cause actual results or future
events to differ materially from those expressed in such forward
looking information.
All forward-looking information in this press release speaks as
of the date of this press release. The Partnership does not
undertake to update any such forward-looking information whether as
a result of new information, future events or otherwise except as
required by law. Additional information about these assumptions and
risks and uncertainties is contained in the Partnership's filings
with securities regulators, including its latest MD&A. These
filings are also available under the Partnership's profile on
SEDAR+ at www.sedarplus.com.
SOURCE Dream Summit Industrial LP