DREAM Unlimited Corp
TSX:DRM

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DREAM Unlimited Corp Logo
DREAM Unlimited Corp
TSX:DRM
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Price: 21 CAD 2.44%
Market Cap: 858.1m CAD

DREAM Unlimited Corp
Investor Relations

DREAM Unlimited Corp. engages in the acquisition, management and development of commercial and residential real estate. The company is headquartered in Toronto, Ontario. The company went IPO on 2013-05-27. The firm operates through two segments: Recurring income and Development. Its Recurring income segment is comprised of its asset management and development management agreements with Dream Industrial REIT, Dream Office REIT and various development partners. Its Development segment is comprised of mixed-use developments in the Greater Toronto Area (GTA) and Ottawa/Gatineau, land, housing, multi-family and retail/commercial development in Saskatchewan and Alberta, and Dream Impact Trust's investment in the Virgin Hotels Las Vegas. The Company’s business includes asset management business, across three Toronto Stock Exchange (TSX) listed trusts and various partnerships. Its development assets, comprised of residential, commercial and retail buildings, and raw land, are located across Toronto, Ottawa and Western Canada.

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DRM
S&P TSX Composite Index (Canada)
Last Earnings Call
Fiscal Period
Q2 2025
Call Date
Aug 13, 2025
AI Summary
Q2 2025

Quiet Quarter: Q2 was described as a quiet quarter with results in line with expectations, as most income is expected to be recognized later in the year.

Western Canada Growth: Major approvals and progress on large land developments in Western Canada are expected to drive steady profits for years to come.

Income Properties Expansion: The company is on track to increase its income property portfolio significantly, with nearly 1,000 units now and plans to add more each year, especially in Western Canada.

Asset Management: Assets under management grew by $2.5 billion since last year, with a continued focus on increasing both AUM and margins.

Liquidity Position: Dream Unlimited ended the quarter with $345 million in liquidity and modest near-term debt maturities, providing flexibility for capital allocation.

Revenue Timing: Most 2025 income, especially from lot sales in Western Canada, will be recognized in the second half of the year.

Buyback Activity: The company has repurchased shares this year and expects to continue measured buybacks, targeting about 1% of shares annually.

Key Financials
Asset Management Revenue
$11.6 million
Asset Management Net Margin
$6.9 million
Income Properties Revenue
$12.2 million
Income Properties NOI
$6.8 million
Income Properties Balance Sheet Value
$883 million
Western Canada Lot Sales
44 lots
Western Canada Housing Occupancies
19 units
Western Canada Net Margin
$1.1 million
Other Investments Revenue
$14.8 million
Other Investments Net Margin
-$4.5 million
Liquidity
$345 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Michael J. Cooper
President, Chief Responsible Officer & Non Independent Director
No Bio Available
Ms. P. Jane Gavan
President of Asset Management & Non-Independent Director
No Bio Available
Mr. Alexander Sannikov
Executive Vice President of Industrial
No Bio Available
Ms. Meaghan Peloso
Chief Financial Officer
No Bio Available
Ms. Kim Lefever
Director of Investor Relations
No Bio Available
Ms. Ana Bailao
Head of Affordable Housing & Public Affairs
No Bio Available
Mr. Jay Jiang C.A.
Executive Vice President of Corporate Development & Strategy
No Bio Available
Mr. Jason Lester
Vice Chair of Development
No Bio Available
Ms. Tsering Yangki
Executive Vice President of Real Estate Finance & Development
No Bio Available

Contacts

Address
ONTARIO
TORONTO
State Street Financial Centre, Suite 301, 30 Adelaide Street East
Contacts
+14163653535.0
www.dream.ca