Morgan Properties has plans to acquire the Dream Residential REIT in an all-cash transaction valued at approximately $354 million.
“Following a comprehensive review, the Board has determined that the transaction is in the best interest of the REIT,” said Vicky Schiff, chair of Dream Residential REIT’s board of trustees. “We are pleased with today’s announcement, which will bring a successful conclusion to the REIT’s strategic review. The board is unanimously recommending that unitholders vote in favor of the transaction.”
“We are pleased to conclude our strategic review with a transaction that delivers immediate value to our unitholders and supports the underlying value of the REIT’s real estate,” said Brian Pauls, CEO of Dream Residential REIT. “The transaction provides our unitholders with liquidity and value certainty.”
“The Dream Residential REIT portfolio exemplifies the type of investment opportunity Morgan Properties excels in
