About the Businesses
Founded in 1994 with a vision to revolutionize the way people live and work, Dream is one of Canada’s leading real estate companies with over $13 billion in assets across North America and Europe. Dream is responsible for some of the country’s most iconic and transformative projects and is committed to investing with purpose — embracing creativity, passion, and innovation while positively impacting local communities. As part of Dream’s group of companies, the Dream Impact Trust targets projects that generate strong financial returns while driving positive and lasting impact on communities and the environment.
BlackTusk Group is a minority-owned Toronto-based real estate asset management firm that invests in thoughtful, urban-focused commercial real estate across the GTA. Through curated design and inclusive development, BlackTusk’s aim is to have a positive impact on urban landscapes while maintaining the essence, culture, and rich history that make neighbourhoods unique.
About the Loan
VCIB provided a secured non-revolving demand loan of $5,600,000 to assist in the acquisition and renovation of a three-storey building located at 34 Madison Avenue, Toronto, Ontario. The property will be co-owned by the Dream Impact Trust and BlackTusk Group.
About the Impact
As the only bank that works exclusively with organizations and businesses that drive social, economic, and environmental change, one of VCIB’s top priorities is building strong partnerships. VCIB’s financing for the values-aligned partnership between the Dream Impact Trust and BlackTusk will support the creation of a high-quality school that focuses on the Montessori method of education. In addition, the renovations for the property will respect the essence and history of Toronto’s Annex neighborhood in which it’s located.