Dream Impact Trust (MPCT) Q2 2026 earnings summary

Executive summary

• Advanced key multi-family development projects, with construction ongoing at 49 Ontario and preparations for Quayside to start by year-end.

• Cherry House and Odenak developments are nearing completion, financed with long-term, government-affiliated debt.

• Achieved a significant milestone at Scarborough Junction, with a new partnership reducing risk and resulting in a $7.8 million fair value gain.

• Focus remains on addressing near-term capital priorities and executing the strategic plan.

Financial highlights

• Net loss for Q2 2026 was $3.0 million, a substantial improvement from $16.5 million in Q2 2025, driven by stronger leasing and fair value gains.

• NOI from recurring income was $5.0 million, up from $4.5 million year-over-year.

• NOI from multi-family rental rose to $3.7 million from $2.7 million year-over-year.

• Net loss per unit improved to $(0.16) from $(0.90) year-over-year.

• Total assets as of June 30, 2026, were $567.4 million, with total liabilities of $224.0 million.

Outlook and guidance

• Over the next five years, more than 1,900 additional multi-family units are expected to be completed.

• Quayside Phase 1 construction is anticipated to begin by year-end, delivering over 400 units at share.

• Scarborough Junction Phase 1 construction expected to start in 2027, with first occupancies in 2030.

• Pipeline of multi-family assets under development expected to drive higher NOI as they stabilize.