08:02 AM EDT, 08/21/2025 (MT Newswires) -- DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (DRR-U.TO, DRR-UN.TO) announced Thursday that its board of trustees has completed its strategic review process and has entered into an arrangement agreement that will see Morgan Properties acquire the REIT in an all-cash transaction valued at approximately US$354 million.

Under the terms of the arrangement agreement, Dream Residential REIT unitholders and DRR Holdings LLC Class B unitholders will each receive cash consideration of US$10.80 per unit of the REIT and per Class B unit of DRR Holdings LLC. A statement noted the transaction price represents a premium of 60% to the closing Trust Unit price on the TSX as of February 19, 2025, the last trading day prior to the announcement of the Strategic Review. Furthermore, it noted, the transaction price represents an 18% premium to the closing Trust Unit price on the TSX as of August 20, 2025, the last trading day prior to the announcement of the transaction.

"Following a comprehensive review, the Board has determined that the Transaction is in the best interest of the REIT," said Vicky Schiff, Chair of Dream Residential REIT's board of trustees.

The board is unanimously recommending that Unitholders vote in favour of the transaction.