Dream Global REIT Announces Pricing of Inaugural EUR375 Million European Investment Grade Debt Offering

TORONTO, ONTARIO--(Marketwired - July 21, 2017) -

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DREAM GLOBAL REIT ("Dream Global" or the "REIT") (TSX:DRG.UN)(FRANKFURT:DRG) today announced that it has priced its previously disclosed inaugural European offering of EUR375 million ($544.3 million)⁽¹⁾ aggregate principal amount of senior unsecured notes. The notes will bear interest at a rate of 1.375% per annum (representing the coupon rate of interest) and will mature on December 21, 2021. The notes were sold at a price of EUR99.575 per EUR100.00 principal amount of notes, for an effective yield if held to maturity of 1.474% per annum. The notes will be issued by a finance subsidiary of the REIT and guaranteed by the REIT. Morgan Stanley & Co. International plc acted as the underwriter and sole lead manager for the offering of notes.

The net proceeds from the issuance of the notes will be used to partially fund the purchase price for the REIT's previously disclosed transaction (the "Transaction") relating to a portfolio of 135 office and light industrial properties located in the Netherlands. After consideration of the Transaction, Moody's Investors Service affirmed the REIT's long-term issuer credit rating and assigned a rating to the notes of Baa3 with a stable outlook.

Closing of the offering of notes is anticipated to occur on July 27, 2017, concurrently with the closing of the Transaction referred to above, and is subject to customary conditions.

This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction. This news release does not constitute an offer of securities for sale in the United States and the securities referred to in this news release may not be offered or sold in the United States absent registration or an exemption from registration.

About Dream Global REIT

Dream Global REIT is an unincorporated, open-ended real estate investment trust that provides investors with the opportunity to invest in commercial real estate exclusively outside of Canada. Dream Global REIT's portfolio currently consists of approximately 13.6 million square feet of gross leasable area of office, industrial and mixed-use properties across Germany, Austria and Belgium. For more information, please visit www.dreamglobalreit.ca.