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Dream Announces Successful Launch of the Dream Impact Fund
March 16, 2021 GMT
TORONTO (BUSINESS WIRE) Mar 16, 2021
Dream Unlimited Corp. (TSX: DRM) (“Dream”, “the Company” or “we”) announces the launch of the Dream Impact Fund (the “Fund”) for private investors.
Dream is pleased to announce that in less than six months of fundraising, all conducted virtually, our private capital business has successfully secured $136 million of commitments for the first close of Dream Impact Fund, one of the world’s first open-ended funds dedicated exclusively to impact investing. Commitments were obtained from a broad investor base, comprising leading financial institutions, money managers and family offices. These include Oxford Properties Group, Scotiabank, TD, 1832 Asset Management on behalf of Dynamic Funds and Canadian Imperial Bank of Commerce as well as Dream Unlimited Corp.,
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Core Development Group Ltd.
Back in the sunny days of 2019 the co-living concept – which sells a version of dorm life to young professional renters – was one of those ideas that seemed like it had no downside, like going to restaurants or hugging your grandparents.
Then the pandemic hit, and in a world defined by COVID-19 shacking up with 4 to 8 roommates suddenly made it seem like getting a snack from the shared kitchen might be a super-spreader event. As the crisis dragged on the economic side effects began to hammer the entire rental market and particularly in urban centres vacancy rates began to rise and rents begin to fall. In the co-living space there have been bankruptcies, restructurings and retrenchmen
The Canadian Press
Toronto developer Dream Unlimited Corp. has hired two urbanists previously affiliated with Sidewalk Labs to join its impact-investment division, which is ramping up with the purchase of two office buildings in the city’s west end this month.
The company said impact investment in the property sector places an emphasis on green buildings and affordable and inclusive housing and offices, all while gaining local support and ensuring that the supply chain draws from diverse sources.
Dream said Wednesday that Pino Di Mascio would become its head of strategy and delivery for the division. Mr. Di Mascio will leave his role as director of planning and delivery for Google sister company Sidewalk Labs, which spent two and a half years developing a plan to redevelop a portion of Toronto’s waterfront for a community to test new urban technologies and building methods. A former partner at the design and planning firm Urban Strategies, he was a key local Toronto hire for N