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dream → DREAM UNLIMITED CORP . REPORTS THIRD QUARTER RESULTS AND CONTINUED GROWTH IN ASSET MANAGEMENT BUSINESS 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 . TORONTO , November 9 , 2021 , Dream Unlimited Corp. ( TSX : DRM ) ( " Dream " , " the Company " or " we " ) today announced its financial results for the three and nine months ended September 30 , 2021 ( " third quarter " ) . " We have continued to make significant progress across the Dream platform this quarter , " said Michael Cooper , Chief Responsible Officer . " By the end of the year , we expect to have a $ 1.7 billion private asset management business , including the Impact Fund , U.S. Industrial Fund and two U.S. apartment funds . Our public asset management platform continues to grow , supported by Dream Industrial REIT's high - quality acquisitions and extensive development pipeline . We are expanding our impact business through multi - family acquisitions , various developments nearing completion over the next 12 months and creative financing solutions such as Dream Impact Trust's debentures or green loans from our lenders . With first lot sales expected at Alpine Park next quarter , which is our most valuable land holding in Western Canada , we expect 2021 to be one of our most significant years in recent memory . " This quarter , the Company closed on the acquisition of two multi - family residential rentals , Weston Common , a two - tower , 841 - unit mixed - use apartment located in Toronto's west end and 262 Jarvis , a 71 - unit Art Deco - style apartment building located near Ryerson University in Toronto . In total , the Dream group acquired 912 units for a gross purchase price of $ 376 million . Dream , Dream Impact Trust and Dream Impact Fund each acquired a one - third share of the properties , which are expected to preserve and create affordable housing . Combined , the properties are 90 % leased as at quarter end and we expect to commence our planned revitalization spend at 262 Jarvis in the fourth quarter and Weston Common in early 2022 . We have an additional 228 multi - family units in Toronto under contract that will immediately contribute to our recurring income . On November 1st , the Dream group of companies announced our commitment to achieving net zero greenhouse gas emissions by 2050 or sooner , as participants in the Net Zero Asset Managers initiative . In October , both Dream Office REIT and Dream Impact Trust received five - star ratings from the Global Real Estate Sustainability Benchmark ( " GRESB " ) , with scores of 91/100 and 90/100 , respectively , placing both entities in the top 20 % of globally assessed companies . Dream Office REIT was also previously recognized as Canada's largest office portfolio to be WELL Health - Safety rated by the International WELL Building Institute , with 87 % of the REIT's gross leasable area being certified . The WELL Health - Safety Certification is an evidence based third - party verified rating for all new and existing building and space types focusing on operational policies , maintenance protocols , stakeholder engagement and emergency plans to address a post - COVID - 19 environment now and into the future . The certification is designed to empower owners and operators to take the necessary steps in order to prioritize the health and safety of their staff , visitors and other stakeholders . The Dream group of companies will be releasing our Sustainability Report in the fourth quarter , which will further outline our environmental , social and governance commitments and future plans . As of September 30 , 2021 , assets under management was $ 13 billion , up $ 4 billion year - over - year , with fee earning assets under management of $ 8 billion as of quarter end . Across the Dream platform , we have another $ 1.2 billion in assets under contract or in exclusivity that will add to the value of our asset management business . On a standalone basis , book equity per share is $ 29.63 and our debt to total assets ratio has increased to 36 % as at September 30 , 2021 , primarily due to our recent acquisition of recurring income producing properties , and is in line with our expectations . A summary of our consolidated results for the three and nine months ended September 30 , 2021 is included in the table below . ( in thousands of Canadian dollars , except per share amounts ) Revenue Net margin Net margin ( % ) ( ¹ ) Earnings ( loss ) before income taxes Earnings ( loss ) for the period ( ² ) Basic earnings ( loss ) per share ( ³ ) Diluted earnings ( loss ) per share $ $ $ $ $ $ For the three months ended September 30 , 2021 46,066 $ 2,151 $ 4.7 % $ 34,189 $ 34,572 $ 0.79 0.77 $ $ 2020 60,485 $ 2,195 $ 3.6 % ( 6,640 ) $ ( 4,653 ) $ ( 0.11 ) ( 0.11 ) $ $ For the nine months ended September 30 , 2020 298,984 $ 67,075 2021 175,800 $ 25,881 14.7 % 30,526 $ 30,344 $ 22.4 % 228,801 191,953 0.68 0.66 $ $ 4.01 3.94