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Production / Operations

Dream Office REIT Announces Sale of 212 King Street West

By The Northwire Desk — AI Analysis Mar 16, 2026 · 18:38 D · 15.97 DUNDEE REALTY CORP
D · Price

Executive Summary

  • Dream Office REIT announced the sale of its 73,000 sq ft Toronto property at 212 King Street West for expected gross proceeds of $39.5 million ($541 per sq ft).
  • Net proceeds will be used to repay an $18 million mortgage (7.5% interest) and reduce revolving credit facilities.
  • The disposition is projected to be accretive to 2026 FFO per unit by approximately $0.05.

Key Details

  • Property: 212 King Street West, Toronto, Ontario – 73,000 sq ft office building.
  • Gross Sale Proceeds: ~$39.5 million (≈$541 per sq ft), matching the Trust’s carrying value as of Dec 31 2025.
  • Closing Timeline: Expected in Q2 2026, subject to customary closing conditions.
  • Existing Debt on Property: $18 million mortgage at 7.5% interest rate.
  • Use of Proceeds: Repayment of the outstanding mortgage and reduction of the Trust’s revolving credit facilities.
  • Accretion Impact: Anticipated increase to 2026 Funds From Operations (FFO) per unit of ~ $0.05.
  • Advisors: Transaction advised by CBRE.

Notable Quotes (optional)

(No direct quotes were provided in the release.)

Read the original news release →

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