Morgan Properties Acquires Dream Residential REIT for $354M

November 19, 2025

Morgan Properties completed the all-cash acquisition of Dream Residential Real Estate Investment Trust for approximately US$354 million, privatizing the publicly traded Canadian REIT. The deal adds 15 multifamily communities (about 3,300 units) across Texas, Ohio, Kentucky and Oklahoma; unitholders received US$10.80 per unit and Morgan plans roughly $58 million in reinvestments across the portfolio.

Buyers
Morgan Properties
Targets
Dream Residential Real Estate Investment Trust
Sellers
Unitholders of Dream Residential REIT (including Class B unitholders), DRR Holdings LLC (Class B unitholders)
Industry
Real Estate
Location
Ontario, Canada
Transaction Type
Buyout

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