The Globe and Mail reports in its Friday, Dec. 19, edition that National Bank analyst Matt Kornack resumed coverage on Dream Industrial REIT with an "outperform" recommendation. The Globe's David Leeder writes that Mr. Kornack gave his unit target a 75-cent boost to $15.75. Analysts on average target the units at $14.30. Mr. Kornack was "surprised" by Dream Industrial's announcement of a $1.1-billion joint venture with the Canada Pension Plan Investment Board and Dream Asset Management Corp. to buy domestic industrial properties. The joint venture is launching by acquiring 12 Canadian industrial properties for $805-million from Dream Industrial that cover a total of 3.6 million square feet of space in Ontario, Quebec and Alberta. Mr. Kornack says in a note: "We had been waiting for something like this to occur in Europe (although apparently this outcome was a result of that process and more news will likely come out on that front in time). Nonetheless, the signals are positive as it sees Maple-8 capital flow to domestic industrial assets at a price that supports NAV while achieving solid accretion on a leverage neutral basis. We are taking our target 9-per-cent higher to reflect NAV accretion and reduced discount."