Professional
Added to YB: 2026-04-07
Pitch date: 2026-04-04
D-UN.TO [bullish]
Dream Office Real Estate Investment Trust
+0.62%
current return
Author Info
Nugget Capital Partners is a research analyst specializing in resources w/ focus on energy. Sign up for the newsletter.
Company Info
Dream Office Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust.
Market Cap
CAD 262.4M
Pitch Price
CAD 16.02
Price Target
N/A
Dividend
6.24%
EV/EBITDA
24.31
P/E
-1.64
EV/Sales
9.70
Sector
Office REITs
Category
value
Alpha in an office REIT? A new investment idea. - Dream Office
D-UN.TO: Downtown Toronto office REIT 1km from Union Station. Recent sales $541/sqft vs implied $308/sqft. Entering at ~9% cap rate vs expected 5-6% market compression. 1.7% vacancy (2019) to 10.6% now & falling, no new supply. Fed/Prov gov return-to-office mandates (6.2% GLA federal). Cooper/Manji 50%+ ownership, take-private candidate. Risks: low liquidity, Allied REIT contagion, slower-than-expected office recovery.
Read full article (10 min)