Dream Industrial REIT has announced that it has agreed to buy UK industrial developer and asset manager Chancerygate for US$147 million (c. £108m).
Dream is a Canadian-based real estate asset manager with experience and $47bn (c. £34bn) of transactions completed across Canada, the US, and Europe.
As part of the transaction, Dream will assume Chancerygate’s investment management and development platform. The transactions are expected to close in August 2026.
Dream co-president of asset management Jamie Cooper said: “This acquisition is an important step as we continue building a leading European industrial platform at Dream.
“Chancerygate brings us an exceptional team and an immediate presence in London at the centre of European capital flows.
“Combined with our existing platform we are well-positioned to continue to grow our private capital partnership business.”
Reportedly, Dream, Chancerygate and Dream Industrial REIT are also in advanced negotiations to form a new programmatic joint venture with a leading global institutional investor.
The joint venture is expected to pursue acquisition and development opportunities in the MLI sector across Europe with a target gross asset value of approximately €500 million (c. £427m).
Post transaction, the combined Dream platform will be one of Europe’s leading vertically integrated urban industrial operators with approximately 27 million ft² managed or under development.
Chancerygate managing director Richard Bains said: “We are excited to join Dream, whose long-term investment philosophy and institutional capabilities align closely with the platform we have built at Chancerygate.
“Over the past three decades, our team has developed a reputation for managing and delivering high-quality assets for some of the world’s most sophisticated investors.
“Joining Dream gives us access to greater scale, broader resources and an enhanced ability to serve our partners as we enter this next chapter of growth.”
