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dream * industrial REIT DREAM INDUSTRIAL REIT REPORTS STRONG Q2 2021 FINANCIAL RESULTS This press release contains forward - looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release . All dollar amounts are in Canadian dollars unless otherwise indicated . Toronto , August 3 , 2021 , Dream Industrial REIT ( DIR.UN - TSX ) or ( the “ Trust ” or “ Dream Industrial " or " we " ) today announced its financial results for the three and six months ended June 30 , 2021. Management will host a conference call to discuss the financial results on August 4 , 2021 at 11:00 a.m. ( ET ) . HIGHLIGHTS Strong diluted FFO per Unit ( ¹ ) and NAV per Unit ( ¹ ) growth : Diluted funds from operations ( " FFO ” ) per Unit ( ¹ ) was $ 0.19 in Q2 2021 , a 11.0 % increase when compared to Q2 2020 ; ● O O O O O O Net asset value ( “ NAV ” ) per Unit ( ¹ ) was $ 13.69 in Q2 2021 , a year - over - year increase of 16.5 % , when compared to Q2 2020 , reflecting higher market rents and lower capitalization rates across the Trust's portfolio ; Net rental income for the three months ended June 30 , 2021 was $ 51.1 million , an increase of 20.6 % , when compared to $ 42.4 million in Q2 2020 ; and Continued portfolio high - grading and increased financial flexibility : $ 1.8 billion of acquisitions completed to date in 2021 , including the 31 - property Pan - European logistics portfolio with a total value of $ 1.3 billion that closed on June 24 , 2021 , as well as $ 100 million of acquisitions that closed subsequent to quarter - end ; Comparative properties NOI ( " CP NOI " ) ( constant currency basis ) ( ¹ ) increased by 3.8 % for the three months ended Q2 2021 , when compared to Q2 2020 , predominantly driven by a 10.3 % increase in Ontario due to higher occupancy and rental rates ; O Continued to lower average interest rate on total debt outstanding , with an approximately 200 basis points decline in the average interest rate on total debt outstanding compared to Q2 2020 ; and O Growing development pipeline in the Greater Toronto Area ( " GTA " ) , with the acquisition of two land parcels totalling 38 acres that can add over 700,000 square feet of brand new logistics space ; US $ 480 million industrial venture in the U.S. - Subsequent to quarter - end , the Trust seeded a U.S. industrial fund by selling 18 of its U.S. assets ( 29 buildings in total ) for expected net proceeds of approximately $ 215 million in cash and an approximately 25 % retained interest in the Fund ; and