06:31 AM EDT, 03/17/2026 (MT Newswires) -- Dream Office Real Estate Investment Trust (D-UN.TO) announced overnight Monday the sale of 212 King Street West, a 73,000 square foot property located in Toronto, Ontario.

The company said proceeds are expected to be $39.5 million, about $541 per square foot, which is consistent with the company's carrying value as at Dec. 31, 2025. Closing of the deal is expected in the second quarter of 2026.

Dream Office REIT said that the property currently carries an $18 million mortgage at a 7.5% interest rate. It intends to use the net proceeds from the sale to repay the outstanding mortgage and pay down its revolving credit facilities.

The sale is currently expected to be accretive to the company's 2026 FFO per unit by about $0.05 per unit, subject to closing date.

Shares of the company closed down 0.06% to $15.97 on Monday on the Toronto Stock Exchange.