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Page 1: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020
Page 2: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020
Page 3: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020
Page 4: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020

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Page 5: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020

High concentration of well connected assets in Downtown Toronto

>60%of our total portfolio is located on this map

97.8% in-place and committed occupancy

5.0 years weighted average lease term

Close proximity to public transit

Intensification and redevelopment potential at 250 Dundas St. W., 212 King St.

and 357 Bay St.

Page 6: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020

Downtown Toronto - Historical Vacancy and Absorption

Source: CBRE

7.3% 6.9%

5.2% 5.0%

6.1% 5.9%5.1%

4.4%3.7%

2.7%

-500,000

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Ab

sorp

tio

n (S

q. F

t.)

Vac

ancy

(%)

Vacancy Rate (LHS) Absorption (RHS)

Source: CBRE

$22.00

$24.00

$26.00

$28.00

$30.00

$32.00

$34.00

$36.00

0.0%

2.5%

5.0%

7.5%

10.0%

12.5%

15.0%

Q209

Q309

Q409

Q110

Q210

Q310

Q410

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314

Q414

Q115

Q215

Q315

Q415

Q116

Q216

Q316

Q416

Q117

Q217

Q317

Q417

Q118

Q218

Q318

Q418

Downtown Toronto Office Market

Downtown Office (Vacancy - Class A) Downtown Office (Avg. Class A Net Rent)

Page 7: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020

$22.45

$24.46$23.03

$25.89 $25.74 $25.80

$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

$30.00

$35.00

0

200

400

600

800

1,000

1,200

1,400

2019 2020 2021 2022 2023 2024+

Re

nt ($

/ S

F)

Le

as

e E

xp

iry (000s

SF)

Expiries (000s SF) Exp. Rent ($/SF)

Page 8: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020
Page 9: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020
Page 10: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020
Page 11: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020

Examples of Capital Investment - Lobby

Examples of Capital Investment - Washroom

Current

Current

Modern Luxury

LuxuryModern

Page 12: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020
Page 13: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020
Page 14: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020

-

-

Page 15: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020
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Page 18: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020
Page 20: Investor Presentation - Dream€¦ · $22.45 $24.46 $23.03 $25.89 $25.74 $25.80 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 0 200 400 600 800 1,000 1,200 1,400 2019 2020