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dream impact trust MPCT.UN - TSX DREAM IMPACT TRUST REPORTS SECOND QUARTER RESULTS AND RAPIDLY EXPANDS ITS RECURRING INCOME SEGMENT 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 in our tables are presented in thousands of Canadian dollars , except unit and per unit amounts , unless otherwise stated . TORONTO , August 3 , 2021 , DREAM IMPACT TRUST ( TSX : MPCT.UN ) ( " Dream Impact " , " we " , " our " or the " Trust " ) today reported its financial results for the three ( " second quarter " ) and six months ended June 30 , 2021 . As we move into the second half of 2021 , the Trust has made significant progress accelerating the composition of our portfolio through the ongoing execution of our development pipeline and our recent acquisitions . These include the acquisition of two office buildings , multi - family residential units , and significant achievements on our Zibi development with multiple blocks expected to be completed over the next twelve months . As at June 30 , 2021 , NOI ( ¹ ) from income properties is approximately $ 10 million per year or $ 0.15 / unit and growing from our acquisitions and development pipeline . In addition , the Trust expects to derive income from assets developed to sell . " We are extremely pleased with the progress we've made in growing our business to date , " said Michael Cooper , Portfolio Manager . " With the planned acquisition of the multi - family rental apartments and the two previously acquired office buildings earlier in the year , we are making progress towards our goal of 70 % of our portfolio being recurring income more quickly than we had expected . This will make the Trust sustainable , safer and more valuable to our communities and investors for the long term . " Subsequent to the second quarter , the Trust announced the expected acquisition of over 900 multi - family residential units in the City of Toronto , for approximately $ 378 million of which $ 279 million is expected to be funded through debt financing at the project level . The Trust will have a 33 % interest in the units , alongside Dream and its affiliates . Upon closing , these units will generate immediate returns to the Trust . The Trust will utilize an amount equal to the net proceeds from the $ 30 million private placement of impact convertible unsecured subordinated debentures ( " Impact Debentures " ) with Fairfax Financial Holdings Limited and / or certain of its controlled affiliates , which closed subsequent to June 30 , 2021 , to fund this acquisition . The Impact Debentures are intended to be used to finance expenditures associated with eligible impact investments and will align with our Impact Financing Framework released earlier this year . The Impact Financing Framework allows the Trust to issue impact investing instruments including green , social or sustainability bonds , green loans , social loans or financial instruments to finance or refinance eligible impact projects . The multi - family residential units align with the Trust's impact verticals that form the basis of the Dream Impact Management System . The Trust will continue to seek financing opportunities to grow the business , including our credit facility and other low - cost financing opportunities . Selected financial and operating metrics for the three and six months ended June 30 , 2021 are summarized below : Condensed consolidated results of operations Net income ( loss ) Cash generated from ( utilized in ) operating activities Net income ( loss ) per unit ( ¹ ) Cash generated from ( utilized in ) operating activities per unit Distributions declared and paid per unit Units outstanding - end of period Units outstanding - weighted average Three months ended June 30 , 2021 2020 Six months ended June 30 , 2021 2020 $ ( 1,451 ) $ ( 129 ) ( 3,634 ) $ 2,162 ( 7,663 ) $ 1,518 5,880 2,556 ( 0.02 ) ( 0.05 ) ( 0.12 ) 0.02 0.03 0.09 0.04 0.10 0.10 0.20 0.20 64,935,685 64,780,095 68,848,500 69,054,839 64,935,685 64,868,057 68,848,500 69,026,710 During the second quarter , the Trust reported a net loss of $ 1.5 million compared to $ 3.6 million in the prior year comparative period . The improvement relative to the prior year was driven by fair value adjustments on our developments and lending portfolio , and foreign exchange fluctuations on our investment in the Virgin Hotels Las Vegas ( " U.S. hotel " ) , partially offset by