Dream Hard Asset Alternatives Trust Investor Presentation (September - - PowerPoint PPT Presentation

Dream Hard Asset Alternatives Trust

Investor Presentation (September 2014)

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This presentation contains forward-looking information within the meaning of applicable securities

• legislation. Forward-looking information is based on a number of assumptions and is subject to a number
• f risks and uncertainties, many of which are beyond Dream and Dream Hard Asset Alternatives Trust’s

control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to general and local economic and business conditions, employment levels, regulatory risks, mortgage rates and regulations, environmental risks, consumer confidence, seasonality, adverse weather conditions, reliance

• n key clients and personnel and competition. All forward looking information in this presentation speaks

as of August 31, 2014. Dream and Dream Hard Asset Alternatives Trust do not undertake to update any such forward looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR (www.sedar.com).

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Forward Looking Information

Prior to starting Dream, Michael Cooper was the founder and portfolio manager of Dynamic Real Estate Fund, the first mutual fund in Canada to invest only in publicly traded real estate securities. Michael recently gave up the position of CEO of Dream Office REIT, a position he had held since the founding of the business He is assuming the responsibilities of managing Dream Alternatives Trust (“DAT”) which will be a key strategic focus for Dream.

Michael Cooper – CEO & Founder of Dream | Portfolio Manager of Dream Alternatives Trust

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Dream – Who we are

Dream has built its business identifying under-valued opportunities in real estate and alternative investments

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Dream – Who we are

Dream started as a public company in 1996 with $500,000 of equity We have generated a 46% internal rate of return over the last 11 years to today’s $1.8 billion

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Leased 20 million square feet of commercial space Completed $4.3 billion of debt financings Raised $4.0 billion of equity Completed almost $11 billion of acquisitions Completed almost $3 billion of asset sales $1.3 billion of aggregate distributions paid to our unitholders since 2003 Formation of a $1 billion hard asset alternative investments trust and we’ve done this all ourselves since 2007 in this building.

Our Cumulative Activities as an Asset Manager Since 2007

Dream Unlimited Corp.

(TSX: DRM) Dream Office REIT (TSX: D.UN) Dream Industrial REIT (TSX: DIR.UN) Dream Global REIT (TSX: DRG.UN)

$14.6 Billion of Assets Under Management

Land Development

Housing and Urban Development

Renewable Power

Largest Office REIT in Canada One of the Largest Dedicated Industrial REITs in Canada Largest Global REIT in Canada

Asset Management Operating Businesses

Dream Hard Asset Alternatives Trust (TSX. DRA.UN)

“Best of Dream” Fund for New Opportunities for Hard Asset Investments

View of Everything We Do at Dream from the Top-Down

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A key strategic focus for Dream is the build-out of our asset management capabilities. After extensive due diligence Dream acquired the rights to manage and restructure four ROI Capital funds into the Dream Alternatives Trust (DAT). Dream’s platform benefits DAT:

• Transaction expertise
• Capital markets expertise
• Track record of development & value creation
• Synergies realized across broad platform
• Asset management capabilities

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The Importance of Dream Alternatives Trust

“Best of Dream Fund” for new opportunities. DAT will have the first right to invest in any

• pportunities that Dream manages requiring capital from investors:
• Renewable power projects identified by Dream
• All lending identified by Dream
• And any development opportunities that Dream finds where it is not the developer

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Dream Alternatives Trust | “Best Of”

Our objectives are to :

• Provide an opportunity for unitholdersto invest in hard asset alternative investments
• Build and maintain a growth-oriented portfolio of real estate, real estate lending and

infrastructure (including renewable power) assets

• Provide predictable and sustainable cash distributions to unitholderson a tax

efficient basis; and

• Grow and re-position the portfolio toincrease the overall average rate of return,

providing the opportunity to increase the distributions to unitholdersover time

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Dream Alternatives Trust | Our Objectives

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Dream Alternatives Trust | Current Assets (including commitments)

Current Hard Assets*

• Income Producing properties through the Properties co-owned

with Dream Office REIT and the Bayfield LP Investments, (equity limited partnership investments in retail real estate).

• Real estate loans consisting of mortgage/loan investments in

hotel, land, multi-residential, condominium, retail, retirement home and commercial assets with fixed interest rates.

• Real Estate development through Participating mortgage and

co-ownership investments in residential, mixed-use and retail development projects.

• Renewable Power Commitments

Real Estate Development 25% Income Producing Properties 40% Real Estate Loans 35%

Income Producing Properties 38% Real Estate Loans 36% Real Estate Development 23% Renewable Power Investments 3%

*Including the renewable energy acquisitions and mortgage loan investments disclosed in the news release of Dream Hard Assets Alternatives Trust dated July 29, 2014. As disclosed in the news release, the renewable energy acquisitions and mortgage loan investments are subject to customary closing conditions and the foregoing allocation assumes these transactions will be completed on the timelines and in all material respects on the terms and conditions anticipated by Dream.

Villarboit, 221 Henry Street Brantford, Ontario Empire Communities Eau Du Soleil Toronto, Ontario Villarboit, Villamark Markham, Ontario Villarboit, 890 McKeown Rd North Bay, Ontario Villarboit, Brookdale Square Cornwall, Ontario Villarboit, Laurentian Square Pembroke, Ontario Villarboit, McLeod Centre Niagara Falls, Ontario Villarboit, 2125 16th Street East Owen Sound, Ontario Empire Communities Brampton, Ontario

Dream Alternatives Trust | Real Estate Development

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• 2 residential development projects with Empire Communities (low rise residential in Brampton and a two tower

condominium development on Lakeshore Blvd., Toronto). Empire has established a tradition of creating prestigious award winning new homes, new condos and communities in the Greater Toronto, Hamilton and Niagara regions.

• 7 retail development projects with VillarboitDevelopment Corporation throughout Ontario. Villarboitis a Toronto

based developer of high quality retail properties with a 25 year history.

• Mixed-use pre-development project in Toronto co-owned and managed by CastlepointStudio Partners.
• All are in various stages of development.

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Dream Alternatives Trust | Land Development Projects

Vill llarbo boit it Vill llamark*

Description 440,000 square feet of GLA, 32 acre site. Location Corner of Highway 48 and Major Mackenzie Drive East, Markham, Ontario. Stage Zoning is substantially complete with ongoing leasing discussions with numerous mid- box anchors

15 Dream Alternatives Trust | Select Development Deals Samples Vill llarbo boit it Lau auren entian Squar are e Pembr broke* e*

Description Five acre, 65,000 square foot retail development 100% leased with three national tenants: Winners, Michaels and SportChek. Location Immediately south of the city of Pembroke Stage Winners and Michaels have occupied their

• premises. SportChek

is expected to occupy its premises in the fall

• f 2014.

Empir pire e Comm

• mmunit

ities ies (Eau au Du Soleil)

• leil)*

Description 1,258 unit, two tower condominium development (63 and 49 floors respectively). Location The fully zoned waterfront development is located at Lakeshore Boulevard West and Parklawn Road Stage Empire is actively selling the condominium units with construction anticipated to commence in early 2015.

Empir pire Comm

• mmunit

ities ies* (11, 11,166 66 Mc McLau Laughlin in Road Road)

Description 96 acre site is currently being developed primarily as a low-rise residential development with 686 units. Location Located in the north quadrant of Brampton in close proximity to Highway 410. Stage The multi-phase development is actively selling residential homes with construction having started in April 2014 and the first home deliveries expected in October 2014. *As at June, 30, 2014

Sussex Centre Mississauga, ON 55 Norfolk St. South Simcoe, ON Valhalla Centre Toronto, ON 80 Whitehall Drive Markham, ON 2010 Winston Park Dr. Oakville, ON 219 Laurier Ave. West Ottawa, ON West Metro Centre Toronto, ON 49 Ontario Street Toronto, ON 460 Two Nations Fredericton Inc. LP Fredericton, NB 10 Lower Spadina Toronto, ON Commerce West Toronto, ON Gateway Business Centre Victoria, BC London City Centre London, ON 2810 Matheson Blvd. Mississauga, ON Wedgewood Plaza Halifax, NS Lansdowne Village Kamloops, BC Tillsonburg Gateway, Tillsonburg, ON 6501 Mississauga Rd. Mississauga , ON 6531 Mississauga Rd. Mississauga , ON Bayfield Mill Woods LP Edmonton, AB Bayfield Retail 2009 LP Kingston ON, Winnipeg MB

Dream Alternatives Trust | Income Producing Properties

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Dream Alternatives Trust | Select Co-Owned Properties Samples

Lon

• ndon City

y Centre* e*

Total (Owned) GLA 324,560 Description Two Class A office towers centrally located in the heart of downtown London Year Built/Renovated 1974 Occupancy 94.9% Average Lease Term in Years 3.6 Average Tenant Size in Square Feet 24,454 Tenants Majority leased to TD Bank

Suss ssex ex Centre* e*

Total (Owned) GLA 326,751 Description Two Class A, LEED Gold, office buildings strategically located in Mississauga. Year Built/Renovated 1987, 1989 Occupancy 87.4% Average Lease Term 5.9 Average Tenant Size in Square Feet 8,652 13,370 Tenants Edward D. Jones, Community Door Network Service and Shepell FGI

West st Me Metro Cor

• rpo

porate e Centre*

Total (Owned) GLA 308,798 Description Three building Class A

• ffice complex, located

in a high visibility area

• n the Highway 427

corridor of the GTA. Year Built/Renovated 1984, 1985, 1989 Occupancy 95.8% Average Lease Term 5 Average Tenant Size in Square Feet 12,269 18,467 160,812 Tenants SNC Lavalin, Transat Tours, and Cogeco Data Services

Comm

• mmerce

e West* st*

Total (Owned) GLA 247,105 Description

Two Class A office towers with excellent exposure along Highway 427 and easy access to many arterial highways such as Highway 401, the QEW and Highway 427.

Year Built/Renovated 1985/2007 Occupancy 97.3 Average Lease Term 4.5 Average Tenant Size in Square Feet 19.087 Tenants Trader Corporation, Parmalat Dairy & Bakery, Livingston International and Diageo Canada. *As at June 30, 2014

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Dream Alternatives Trust | Co-Owned Properties Update

• 19 commercial properties co-owned with Dream Office REIT which is Canada’s largest office REIT

and is also the property manager of the co-owned properties.

• In place and committed occupancy of 91.4%.
• Weighted average remaining lease term of 4.6 years.
• Average tenant size of approximately 23,000 square feet.

(As at June 30, 2014)

Loan Portfolio – Highlights

Applewood Homewood Vaughan, ON Hilldale Retirement Gardens, Thunder Bay, ON Holiday Inn Express Grande Prairie, AB Isabella Developments Inc, Thunder Bay, ON Marquee Hotels Brampton, ON Ramada, Grande Prairie, AB Stonebridge Hotel Dawson Creek, BC Pomeroy Inn Suites Dawson Creek. BC Marquee Hotels

• Ltd. Oakville, ON

MMS Enterprises (Empire) Oakville, Ontario Fairmont Tremblant Resort, Mt Tremblant, QC Manoir La Noblesse, St Jerome, and Laval, QC Empire Communities Wyndance, Uxbridge, ON

First Mortgages 84%

Security Allocation

Dream Alternatives Trust | Loan Portfolio Overview*

Other Corporate Loans 8% Second Mortgages 8%

*As disclosed in the news release of Dream Hard Assets Alternatives Trust dated July 29, 2014, the mortgage loan transactions are subject to customary closing conditions and the foregoing discussion assumes these transactions will be completed on the timelines and in all material respects on the terms and conditions anticipated by Dream.

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Hospitality 46% Multi Residential & Retirement Home 12% Land 21% Corporate Loan 8% Retail 12% Self Storage, Industrial and Other 1%

Sector Allocation

Dream Alternatives Trust | Loan Portfolio Overview* Eastern Canada $48.5 million 20% GTA & SW Ontario $82.3 million 38% Western Canada $101.3 million 42%

Eastern Canada 20% GTA & SW Ontario 38% Western Canada 42%

Geographic Allocation

*As disclosed in the news release of Dream Hard Assets Alternatives Trust dated July 29, 2014, the mortgage loan transactions are subject to customary closing conditions and the foregoing

discussion assumes these transactions will be completed on the timelines and in all material respects on the terms and conditions anticipated by Dream.

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27% 36% 26% 11% 2014 2015 2016 2017

Maturity Summary

— During the time it takes to turn over the assets, Dream believes it will improve the existing assets, invest in consistent and higher returning assets such as renewable power and identify lending and development activities that are likely to generate higher returns. — Hard assets provide additional diversification from the traditional asset classes of stocks and bonds. — Begin rebalancing to provide higher risk adjusted returns. — Development loans and development equity have historically provided very attractive returns. — Renewable power investments in wind and solar have historically provided Dream with predictable returns that are higher than from income properties.

*potential asset allocation over the next five years

Dream Alternatives Trust | Conceptual Portfolio* Income Properties 33% Western Canada 82, 196, 647 40% Renewable Power 33%

Real Estate Development Development Loans Traditional Loans

33%

Potential Future Stabilized Portfolio

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Dream Alternatives Trust | First Accretive Renewable Power Investment Commitments*

2 Ontario Rooftop Solar and 2 Nova Scotia Community Wind Projects Commitments**

• $20.1 million of invested equity, mostly funded by December

2014.

• Estimated to be operational by August 2015 providing an

estimated cash on cash yield of 12.4% on the $20.1 million invested.

• Prior to August 2015, estimated cash on cash yield 6.6%-

6.8%.

• Ontario solar projects have a FIT contract (allows for sale of

solar to Ontario Power Authority for a fixed price term of 20 years).

• NS wind projects have a community feed in tariff (ComFIT)

for sale of electricity to NS Power Inc. at a fixed price for 20 years.

• 3 of these projects have community or aboriginal partners

and will benefit from participation development and a share in project cash flows.

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**As disclosed in the news release of Dream Hard Assets Alternatives Trust dated July 29, 2014, the Ontario and Nova Scotia renewable energy projects are subject to customary closing conditions and the foregoing discussion (including expected rates of return) assumes these transactions will be completed on the timelines and in all material respects on the terms and conditions anticipated by Dream and that the financial returns and other benefits from government contracts relating to these investments are realized on the terms anticipated by Dream.

Dream Alternatives Trust | New Accretive Real Estate Mortgage Loan Commitments*

New Mortgage Loan Commitments** (Rates of 6.0% - 10 %)

• $14.1 million first mortgage construction loan to a Vancouver

based developer, 18 month term, 6.0% interest, secured by a 6,000 square foot site in the eastern edge of Gastown, substantially presold nine storey condominium project will be constructed containing 61 residential units and ground floor retail space.

• $8.5 million begins as a first mortgage (ranks behind a

construction mortgage if not repaid), 24 month term, interest rate is 9%, secured by a student residence condo project that is 97% pre sold. Prime location across from University of Waterloo, and close proximity to Wilfred Laurier University. Steps to groceries, shopping, restaurants, coffee shops, bars, theatre and transit.

• $4.5 million second mortgage on a development site in a

desirable neighbourhood with good amenities next to transit in midtown Toronto. Interest rate 10% over three years.

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**As disclosed in the news release of Dream Hard Assets Alternatives Trust dated July 29, 2014, the mortgage loan transactions are subject to customary closing conditions and the foregoing discussion assumes these transactions will be completed on the timelines and in all material respects on the terms and conditions anticipated by Dream.

DREAM Unlimited Corp. Dream Industrial REIT

Dan Marinovic SVP Land & Housing Jason Lester SVP Urban Development George Valentini EVP & General Counsel Jane Gavan

President, Asset Management; CEO Dream Office; CEO Dream Global

Pauline Alimchandani CFO Michael Cooper CEO Mario Barrafato CFO Ana Radic COO Kevin Hardy SVP, Portfolio Management Sharon Mitchell

President, Dundee Realty Management

Andrew Reial SVP, Portfolio Management Paul Skeans SVP, Portfolio Management Randy Cameron President & CEO John Todd CFO Yanick Frappier SVP, Portfolio Management Joe Iadeluca SVP, Portfolio Management Nicholas Stryland VP, Eastern Industrial Leasing Bruce Traversy SVP

Dream Office REIT

Cecilia Williams VP & Controller

Depth and Expertise of Our Canadian Platform – We Work Together to Create Value for all our Managed Entities

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Kim Lefever Senior Manager, Investor Relations Victor Settino VP, Commercial Development Adam Reeds Director, Renewable Power Investments Joshua Kaufman VP, Retail & Commercial Development Ayesha Shafiq Director, Real Estate Investments Michael Kosiancic VP, Firelight Infrastructure Partners

Pauline Alimchandani CPA, CA, CFA

James Eaton Jane Gavan

• CFO –Dream Unlimited Corp
• Vice President, Research Analyst, Real Estate & REITs - BMO Capital Markets
• Assurance, Consulting & Deals - PricewaterhouseCoopers LLP
• President - Weatons Holdings Ltd.
• Board/Trustee Member - J.C. Clark Ltd., Defyrus Inc. True Patriot Love Foundation, Canadian Art Foundation, John David and

Signy Eaton Foundation

Joanne Ferstman CPA, CA

• Board Member – Dream Unlimited Corp., Dream Office REIT, Excellon Resources Inc., Aimia Inc., Osisko Mining Corporation
• President & CEO – Dundee Capital Markets Inc.
• Vice-Chair, Head of Capital Markets – Dundee Wealth Inc.
• President, Asset Management – Dream Unlimited Corp.
• CEO – Dream Office REIT, Dream Global REIT
• Board Member – Dream Unlimited Corp., Dream Office REIT, Dream Industrial REIT

David Kaufman CAIA, Chair of the Board of Trustees

• Founder, President & CEO – Westcourt Capital Corporation
• Host/Writer/Contributor – BNN “Alternative Investing”, Financial Post “Alternative Investor”, CBC “Lang & O’Leary Exchange”
• Real Estate/Private Equity – Magna Golf Club, Menkes Developments, Lynx Equity

Andrew Lapham

• Executive Advisor – The Blackstone Group, Canada
• Private Equity/Hedge Fund - Onex Partners, Odyssey Partners, John A. Levin & Co.

Michael Cooper

• President & CEO –Dream Unlimited Corp.
• Board Member – Dream Unlimited Corp., Dream Office REIT, Dream Global REIT, Dream Industrial REIT, Atrium Mortgage

Investment Corporation

Experienced and Diverse Board of Directors

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Contact Information:

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Dre ream Unli Unlimite ited Corporation Pauline Alimchandani Chief Financial Officer 416-365-5992 palimchandani@dream.ca Dre ream Har ard Asset Alte Alternati tives Trust t Kimberly Lefever Senior Manager, Investor Relations 416-365-6339 klefever@dream.ca Dre ream Har ard Asset Alte Alternati tives Trust t Michael Cooper Portfolio Manager 416-365-5145 mcooper@dream.ca Dre ream Har ard Asset Alte Alternati tives Trust t Cecilia Williams Vice President, Finance 416-365-4185 cwilliams@dream.ca