On August 21, 2025, Dream Residential REIT announced that it has entered into an arrangement agreement to be acquired by Morgan Properties in an all-cash transaction valued at approximately US$354 million. This transaction marks the conclusion of the REIT’s previously announced strategic review process.

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust that owns a portfolio of garden-style multi-residential properties, primarily located in three markets across the Sunbelt and Midwest regions of the United States.

Osler, Hoskin & Harcourt LLP advised Dream Residential REIT with a team consisting of Alex Gorka and including Emery White, Bradley Lastman and Hannah Woods (M&A), Jack Silverson, Taylor Cao and Irene Kang (Tax) and Rod Davidge (Real Estate).

The deal was completed on November 18, 2025.