After Dream Global sale to Blackstone, Cooper’s holding company plans a pivot [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
After Dream Global sale to Blackstone, Cooper’s holding company plans a pivot The sale of Dream Global Real Estate Investment Trust provides a healthy payday for Michael Cooper’s holding company as the real estate titan pivots toward private capital in a new era for the industry. Blackstone Group Inc. is buying Dream Global REIT for $3.3-billion in cash, and as part of the deal the private equity giant is paying $395-million to end Dream Global’s asset management contract with Mr. Cooper’s partially-controlled holding company, Dream Unlimited Corp. That additional payment will flow to the holding company, whose shares jumped almost 17 per cent on Monday. Mr. Cooper runs the Dream family of real estate companies and he is the largest shareholder of Dream Unlimited, with a 36-per-cent stake. Story continues below advertisement Mr. Cooper said in an interview that the $395-million, plus the proceeds from Dream Unlimited’s sale of its 2.5 per cent stake in Dream Global, will go to pay dow
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