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Dream Impact Trust (MPCT) investor relations material
Dream Impact Trust Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Progress made on five-year strategic plan, focusing on key development projects, risk reduction, and liquidity enhancement.
Advanced Quayside and 49 Ontario projects, targeting over 2,800 multi-residential units upon completion.
Achieved strong leasing momentum in the multi-family portfolio, with 94% occupancy and Maple House stabilized.
Dispositions for 2026 are limited, with potential deferral of one sale due to strong liquidity.
Financial highlights
Q4 2025 net loss of CAD 23.5 million, compared to CAD 8.3 million net loss in prior year, mainly due to fair value adjustments and non-recurring expenses.
Year-end net loss was CAD 54.0 million.
Same-property NOI from multifamily properties rose to CAD 2.8 million from CAD 2.5 million year-over-year, driven by improved occupancy and higher rents.
Portfolio committed occupancy at 94% as of December 31, 2025.
Total assets at year-end were CAD 646.0 million, with total liabilities of CAD 296.1 million and unitholders' equity of CAD 349.9 million.
Outlook and guidance
Near-term multifamily pipeline expected to deliver nearly 1,500 units over next two years.
Construction at Quayside expected to commence by end of 2026, subject to financing milestones.
49 Ontario projected to generate CAD 120 million (CAD 6/share) in equity by 2030.
Expectation to draw full CAD 50 million Dream loan in 2026, with backup plans for further capital if needed.
Anticipation of improved market conditions as new supply slows and existing supply is absorbed.
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