Dundee Industrial REIT (OTC:DREUF) ("DIR" or "the company") is a year old spin-off from Dundee REIT (OTC:DRETF) ("Dundee"), designed to hold various types of industrial properties in Canada, including flex industrial, light manufacturing and warehousing and distribution properties. The reason for the spin-off was to unlock shareholder value by allowing investors to evaluate each type of real estate asset class on its own, with DIR holding the industrial properties and Dundee retaining the office building real estate across Canada.
Dundee continues to hold a 23% stake in DIR post-IPO, and Michael Cooper, the CEO of Dream Unlimited (OTC:DRUNF) ("Dream") and Dundee, participated in the DIR IPO, acquiring 750,000 units at $10 per share. Prospective...
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