Canada Pension Plan Investment Board (CPP Investments), Dream Unlimited Corp. (Dream) and Dream Industrial Real Estate Investment Trust (Dream Industrial REIT) have completed the acquisition of an industrial portfolio in the Greater Toronto Area for C$585.8 million ($418.6 million) through the joint venture formed in December 2025.
The portfolio comprises five newly developed mid- and large-bay logistics assets totaling 2.1 million square feet of gross leasable area. The portfolio is fully leased to a roster of national and international companies, generating stable in-place income, with the opportunity to drive value through executing on embedded mark-to-market rental growth potential. Built between 2020 and 2024, the properties feature 36- to 40-foot clear heights, ample trailer parking and a loading ratio of one door per 8,000 square feet, positioning them to accommodate both mid- and large-bay occupiers.
The portfolio was acquired through the joint venture that CPP
