By Liza Helps, Property Editor, Logistics Matters

DREAM ACQUIRED the developer for £78 million gross of certain in-place debt and expects to fund an additional £25 million to complete the wholly owned development projects. The transactions are expected to close in August 2026.

As part of the transaction, Dream will assume Chancerygate’s investment management and development platform. Dream Industrial REIT will acquire Chancerygate’s wholly owned real estate assets and co-investment interests across its managed ventures.

The combined platform will make DREAM one of Europe’s leaders in urban industrial with over 80 professionals and 27 million ft2 of GLA managed or under development across nine countries.

Developer and asset manager Chancerygate has a 30-year track record in the multi-let industrial sector and currently manages approximately £1.2 billion of assets with another £200 million under development across various private ventures. Chancerygate’s coverage of the UK, Ireland, Spain and Portugal is highly complementary to Dream’s existing operations in the Netherlands and Germany.

Dream, Chancerygate and Dream Industrial REIT are in advanced negotiations to form a new programmatic joint venture with a leading global institutional investor. The joint venture is expected to pursue acquisition and development opportunities in the MLI sector across Europe with a target gross asset value of approximately £420 million + (€500 million).

CEO and Dream Asset Management Co-President Alexander Sannikov said: “With Chancerygate, Dream Industrial REIT enters the UK multi-let industrial market, a sector with attractive operating fundamentals, together with a fully built operating platform and established institutional relationships. The transaction accelerates our European growth strategy and is consistent with our objective of growing accretively through thoughtful allocation of capital and vertically integrated operations.”

Dream’s total global assets under management (AUM) is expected to exceed circa £16 billion.