Canada Pension Plan Investment Board (CPP Investments), Dream Unlimited and Dream Industrial REIT have acquired a C$585.8m (€374.9m) logistics portfolio in the Greater Toronto Area for their Canadian industrial joint venture.
The acquisition of the fully let, 2.1m sqft portfolio brings the total capital deployed by the partnership to over C$1.4bn, following its establishment in December 2025 with a C$3bn total investment target.
Sophie van Oosterom, managing director, head of real estate at CPP Investments, said: “This acquisition builds on our conviction in the long-term fundamentals of Canada’s industrial sector and adds a high-quality portfolio of well-located logistics assets to the joint venture.
“Together with Dream, we continue to identify attractive opportunities to scale the portfolio and generate long-term value for the CPP Fund.”
Bruce Traversy, CIO, Dream Industrial REIT, said: “This acquisition adds a best-in-class logistics portfolio to our platform in one of North America’s strongest industrial markets. The transaction aligns with Dream Industrial REIT’s strategy of investing in high-quality industrial real estate that offers stable cash flows and opportunities for value creation through active asset management.
“We see a strong pipeline of further opportunities across Canada and look forward to continuing to build our partnership with CPP Investments.”
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