Dream Industrial REIT forms joint venture with CPP Investments

Goodmans LLP is acting as independent legal counsel for the Special Committee of Dream Industrial REIT in connection with a C$805 million joint venture with the Canada Pension Plan Investment Board (“CPP Investments”) to acquire an initial portfolio.

The joint venture is backed by an aggregate equity allocation of C$1.1 billion from CPP Investments and Dream Industrial REIT, with plans to acquire an additional C$3 billion of Canadian industrial assets over time. The Transaction is expected to close in two similar-sized tranches over the course of H1 2026 and is subject to customary closing conditions.

This partnership will accelerate the growth of the REIT’s property management business and enhance its already well-diversified sources of capital.

Dream Industrial REIT is a Canada-based owner, manager, and operator with a global platform of well-located industrial assets across North America and Europe.

The CPP Investment Board is a professional investment management organization that manages the Canada Pension Plan Fund.

"Goodmans has deep experience in capital markets and in the REIT space. Their service and responsiveness levels are also very high." — Chambers Canada
Goodmans LLP houses a full-service capital markets practice... Among its core strong suits, the group is arguably best known for its strength in SPACs, REITs and IPOs... — The Legal 500 Canada
"The team is very professional, solves problems efficiently and is very hard-working. It is a great pleasure and privilege to work with the team on cross-border transactions and multi-jurisdictional projects." — Legal 500 Canada
"It is one of our trusted and preferred legal firms when we go to select specific counsel. It is a leader in capital markets, and we trust the group's view and know that it works well." — Chambers Canada
A prominent player in REITs and SPAC-related offerings, also bearing an impressive record in cross-border and cannabis-related matters. — The Legal 500 Canada
Goodmans is a leading Toronto law firm with an extremely strong reputation and track record representing a range of REITs in their acquisition of various properties, including in the residential, senior living and hospital asset classes. — Chambers Canada
...a compact investment funds practice that is acknowledged for its representation of domestic and cross-border private equity and pension funds. — Chambers Canada
A distinguished practice valued for advising major REITs and financial institutions on innovative capital markets transactions. — Chambers Canada
Goodmans LLP is a stellar outfit for acquisition, joint venture, sale and financing transactions, counting its commanding position within the REIT and hospitality markets among its key points of differentiation. — Legal 500 Canada
One client noted, "The team are highly proficient in REITs, including cross-border REITs," adding, "They are also responsive and miss nothing." — Chambers Canada
...frequently mandated on major hotel deals and represents an impressive roster of pension funds, asset managers, REITs and other institutional players. — Chambers Canada
The team wins recognition for its experience in the private equity secondary market and has considerable experience in the structuring and formation of funds. — Chambers Canada
Clients remark, "It's a sophisticated team and they offer a high level of client service." — Chambers Canada

Practices

Industries

Dream Industrial REIT forms joint venture with CPP Investments

Site Search

Dream Industrial REIT forms joint venture with CPP Investments

Expertise

Featured Work