Dream Industrial REIT to up revolver to $150 million, plans draw

By Wendy Van Sickle

Columbus, Ohio, Feb. 4 – Dream Industrial Real Estate Investment Trust received lender approval to amend its revolving credit facility to $150 million from $125 million, according to a news release.

The REIT also announced that it plans to draw down on its revolver to fund part of its acquisition of a portfolio of 21 buildings located in five cities across the midwestern United States for $179 million.

The acquisition will also be funded by proceeds of a $125 million offering of trust units and via working capital.

Revolver borrowings may be drawn in U.S. or Canadian dollars.

The Toronto-based open-ended real estate investment trust owns and operates a portfolio of 219 geographically diversified light industrial properties.

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