Dream Unlimited Corp. (Dream) announced that Dream and Dream Industrial Real Estate Investment Trust (Dream Industrial REIT), have entered into definitive agreements for Dream to acquire Chancerygate Limited (Chancerygate or CG), a U.K.-based industrial developer and asset manager with a 30-year track record in the multi-let industrial (MLI) sector. Chancerygate manages a diversified portfolio of income-producing and development assets totaling £1.2 billion ($1.6 billion).
As part of the transaction, Dream will assume Chancerygate’s investment management and development platform. Dream Industrial REIT will acquire Chancerygate’s wholly owned real estate assets and co-investment interests across its managed ventures for consideration of approximately £78 million ($105 million), gross of certain in-place debt, and expects to fund an additional £25 million ($34 million) to complete the wholly owned development projects. The transactions are expected to close in August 202
