Dream U.S. Manager LLC

Dream U.S. Manager LLC serves sophisticated and institutional investors as the discretionary investment manager of Dream U.S. Industrial Fund LP, a privately offered Section 3(c)(7) fund that invests substantially all of its assets in U.S. industrial real estate. As of December 31, 2025 the firm reported approximately $1.04 billion in regulatory assets under management and typically requires large minimum commitments (generally $5,000,000, subject to waiver).

The Fund’s strategy emphasizes a diversified portfolio of Core and Core+ industrial assets supplemented by development and value‑add opportunities, with Dream exercising broad discretionary authority under the Fund’s Offering Documents and oversight by an investment committee. Dream uses vertically integrated affiliate services—property management, leasing, development and construction—and provides investors with quarterly reporting and audited annual financial statements as described in the Brochure.

The Brochure highlights several features that distinguish Dream from many peers, including the use of side letters that can grant preferential economic or liquidity terms to certain investors and the acquisition of Seed Assets from a related, publicly traded REIT (TSX:DIR.UN). It also discloses that the firm markets predecessor performance and third‑party ratings in its materials, and describes its ownership chain up to Dream Unlimited Corp. (TSX:DRM) and related conflicts-management measures when affiliates provide services or receive fee waivers.