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Dream Global Provides Update on Anticipated Closing of Blackstone Acquisition

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The Transaction also requires a separation of Dream Asset Management Corporation (a subsidiary of Dream Unlimited Corp.) from its role as external asset manager to the REIT.

Dream global real estate investment trust (TSX: DRG.UN FRA: DRG, “Dream Global REIT” or the “REIT”) announced today that it has received the regulatory approvals required for the closing of the previously-announced transaction pursuant to which affiliates of real estate funds managed by The Blackstone Group Inc. (“Blackstone”) will acquire all of Dream Global REIT’s subsidiaries and assets in an all-cash transaction valued at $6.2 billion (the “Transaction”) and anticipates that closing will occur on or about December 10, 2019, subject to the satisfaction of all remaining closing conditions to be satisfied at the time of closing. On closing of the Transaction, unitholders of the REIT (the “Unitholders”) will receive cash consideration of $16.79 per unit of Dream Global REIT (the “Units”). The Transaction also requires a separation of Dream Asset Management Corporation (a subsidiary of Dream Unlimited Corp.) from its role as external asset manager to the REIT.

About Dream Global REIT

Dream Global REIT is an owner and operator of a diversified high-quality portfolio of office and industrial properties located in key markets in Western Europe with a focus on Germany and the Netherlands. The REIT’s in-house platform comprises over 140 local leasing, property management, asset management and development professionals operating out of 13 offices in Europe and North America.

About Blackstone

Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $157 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail. Blackstone’s opportunistic funds seek to acquire well-located assets across the world. Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high quality assets and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Source: Press Release

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