Ms. Jane Gavan reports
DREAM OFFICE REIT REPORTS DISPOSITIONS IN ALBERTA
In response to recent news media reports and at the request of the Investment Industry Regulatory Organization of Canada, on behalf of the Toronto Stock Exchange, Dream Office Real Estate Investment Trust has noted that it has entered into agreements to sell a portfolio of 12 properties in Alberta totalling approximately 1.5 million square feet of gross leasable area to a third party for gross proceeds of approximately $200-million. The transaction remains subject to regulatory approvals and is expected to close in the first quarter of 2017. Dream Office continues to pursue its previously announced strategic plan and will provide further updates on its progress with the release of its fourth quarter financial results on Feb. 23, 2017.
Dream Office's portfolio currently comprises approximately 20.8 million square feet of gross leasable area in major urban centres across Canada.
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