Mr. Brian Pauls reports

DREAM INDUSTRIAL REIT ANNOUNCES $125 MILLION EQUITY OFFERING, ADVANCED NEGOTIATIONS ON ACQUISITIONS IN CANADA AND THE U.S. AND INTENTION TO REDEEM 5.25% CONVERTIBLE DEBENTURES

Dream Industrial Real Estate Investment Trust has entered into an agreement to sell 12.1 million of units of the trust on a bought deal basis at a price of $10.35 per unit to a syndicate of underwriters led by TD Securities Inc. for gross proceeds of $125,235,000. In addition, the trust has granted the underwriters an overallotment option, exercisable for a period of 30 days following closing of the offering, to purchase up to an additional 1,815,000 units, which, if exercised in full, would increase the gross proceeds of the offering to $144,020,250. Closing of the offering is expected to occur on or about June 29, 2018. The offering is subject to certain customary conditions, including the approval of the Toronto Stock Exchange.

The trust intends to use the net proceeds from the offering to finance acquisitions, to partially finance the redemption of its outstanding 5.25 per cent convertible debentures and for general trust purposes. The trust is currently in advanced and exclusive negotiations with vendors on assets in the trust's target markets in the United States (Midwest) and Ontario (Greater Toronto Area). The asset in Ontario is currently under contract. The combined expected purchase price of these properties would exceed $100-million and would be financed by assumed mortgage debt and net proceeds from the offering.

The combined gross leasable area of these properties is approximately 925,000 square feet. The assets are high-quality, well-located assets in strong industrial markets. All assets are fully occupied, with a weighted average lease term (WALT) of 6.8 years. The expected going-in capitalization rate on these properties is approximately 6.3 per cent and the properties have weighted average annual rental escalators of approximately 1.2 per cent over the term of the leases.

"We are excited with the opportunity to build long-term value through acquisition of high-quality assets in our target markets," said Brian Pauls, chief executive officer of Dream Industrial. "Our strategies announced today will help us reduce leverage, simplify our capital structure and execute on targeted acquisitions while maintaining ample liquidity to manage our business and pursue future opportunities."

The units will be offered by way of a shelf prospectus supplement to the trust's base shelf prospectus dated Sept. 15, 2017, to be filed on or about June 22, 2018, with the securities commissions and other similar regulatory authorities in each of the provinces of Canada.

About Dream Industrial Real Estate Investment Trust

Dream Industrial is an unincorporated, open-ended real estate investment trust. Dream Industrial owns and operates a portfolio of 219 geographically diversified light industrial properties comprising approximately 19 million square feet of gross leasable area located primarily in key markets across Canada with a growing presence in the United States.

We seek Safe Harbor.