|By PR Newswire||
|April 2, 2014 07:45 PM EDT||
TORONTO, April 2, 2014 /CNW/ - Return On Innovation Advisors Ltd. ("ROI Capital") announced today that it has entered into an agreement with a subsidiary of DREAM Unlimited Corp. (TSX:DRM) ("DREAM") whereby DREAM will acquire the rights to manage ROI Canadian High Income Mortgage Fund (TSX: RIH.UN), ROI Canadian Mortgage Income Fund (TSX: RIL.UN), ROI Canadian Real Estate Fund (TSX: RIR.UN) and privately held ROI Institutional Private Placement Fund (collectively, the "ROI Funds").
In connection with the change of manager, it is proposed that the ROI Funds will complete a reorganization involving, among other things, the transfer of the assets of each ROI Fund to a newly-formed, open-ended investment trust called DREAM Alternatives Fund ("DREAM Alternatives") in exchange for units of DREAM Alternatives. Unitholders of the ROI Funds would then receive units of DREAM Alternatives on redemption of their ROI Fund units under the reorganization.
DREAM Alternatives will be managed by a subsidiary of DREAM and will provide unitholders with exposure to real estate, real estate lending and infrastructure, including renewable power, and accordingly leverage DREAM's asset management platform, track record and expertise in these areas.
"Given DREAM's roster of 178 real-estate professionals and management of over $13.8 billion of real-estate assets, we believe the proposed transaction between the ROI Funds and DREAM will offer great synergies to deliver on unitholder expectations and value." said Wilfred Vos, President of ROI Capital.
The closing of the transaction and the completion of the reorganization is subject to customary closing conditions including obtaining requisite unitholder, stock exchange and regulatory approvals in addition to the Independent Review Committee recommendation for the ROI Funds. It is anticipated that an information circular will be prepared for mid May 2014, with the unitholder vote expected to occur in June 2014. Subject to the appropriate approvals, the transaction is expected to close in July 2014.
Further details of the transactions will be set forth in an information circular that will be mailed to applicable ROI Fund unitholders.
About the ROI Funds
The investment objective of ROI Canadian High Income Mortgage Fund is to provide unitholders with attractive risk adjusted, monthly, tax advantaged cash distributions, a high current yield, some long-term capital appreciation and preservation of capital by investing primarily directly or indirectly in, or by obtaining economic exposure through a forward agreement to, an actively managed diversified portfolio of commercial mortgages, loans secured by, or that provide a participating interest in, real property or ownership interests in real property. The net asset value per unit of ROI Canadian High Income Mortgage Fund as of April 1, 2014 is $9.3841.
The investment objective of ROI Canadian Mortgage Income Fund is to provide unitholders with attractive risk adjusted, monthly, tax advantaged cash distributions, a nominal after-tax current yield, long-term capital appreciation and preservation of capital by investing primarily, directly or indirectly in, or by obtaining economic exposure through a forward agreement to, an actively managed diversified portfolio of commercial mortgages, loans secured by, or that provide a participating interest in, real property or ownership interests in real property. The net asset value per unit of ROI Canadian Mortgage Income Fund as of April 1, 2014 is $9.5539.
The investment objective of ROI Canadian Real Estate Fund is to provide unitholders with attractive risk adjusted, monthly, tax advantaged cash distributions, a nominal current yield, some long-term capital appreciation and preservation of capital by investing primarily, directly or indirectly in, or by obtaining economic exposure through a forward agreement to, an actively managed diversified portfolio of commercial mortgages, loans secured by, or that provide a participating interest in, real property or ownership interests in real property. The net asset value per unit of ROI Canadian Real Estate Fund as of April 1, 2014 is $9.3709.
The investment objective of ROI Institutional Private Placement Fund is to provide unitholders with attractive risk adjusted, monthly cash distributions, a nominal current yield, some nominal long-term capital appreciation and preservation of capital by investing primarily, directly or indirectly, or by obtaining economic exposure through one or more forward agreements to, an actively managed diversified portfolio of commercial mortgages, loans secured by, or that provide a participating interest in, real property or ownership interests in real property. The net asset value per unit of ROI Institutional Private Placement Fund Series A as of April 1, 2014 is $91.8002.
About ROI Capital
Established in 2002, ROI Capital is a privately held Canadian investment management firm that specializes in commercial mortgages, loans and private real estate investments. With a deep understanding of the fundamentals of the commercial real estate market, ROI Capital strives for capital preservation while seeking to deliver sustainable income and long-term returns for investors. This is achieved by primarily focusing on income-producing properties in large urban markets. ROI Capital has created a bridge between investors seeking the income potential from alternative investments and borrowers in Canada's flourishing commercial real estate sector seeking non-bank financing. In just over a decade, ROI Capital has financed over $1.7 billion (as of December 31, 2013) across approximately 200 private commercial real estate investments and has continuously delivered value and income to investors. Website: www.roicapital.ca
DREAM is an innovative real estate manager and developer primarily focused on the commercial and residential sectors in Canada and Germany and renewable power in Canada. From its creation, DREAM has successfully identified and executed on opportunities for the benefit of the business, shareholders and clients.
DREAM provides asset management for over $13.4 billion of assets. DREAM is the asset manager for three publicly listed REIT funds in Canada including: Dundee REIT, Canada's largest office REIT, Dundee International, Canada's largest REIT that invests only outside of Canada and Dundee Industrial REIT, one of Canada's largest dedicated industrial REITs.
DREAM is also the co-manager of a $345 million infrastructure fund with a focus on wind and solar Canadian renewable power projects. The total value of these projects is about $1.3 billion including debt.
Its asset management team consists of 178 real estate professionals with backgrounds in property management, architecture, engineering, construction, finance, accounting, sales and marketing and law. The team brings experience from virtually all the major real estate organizations in Canada and has expertise in capital markets, structured finance, real estate investments and management across a broad spectrum of property types in diverse geographic markets. It carries out its own research and analysis, financial modeling, due diligence and financial planning. DREAM has an established track record for being innovative and for its ability to source, structure and execute on compelling investment opportunities. DREAM has completed over $17 billion of commercial real estate transactions over the last 20 years. Website: www.dream.ca
Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. ROI Capital undertakes no obligation to update publicly or otherwise revise any forward looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law. Investment funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There is no guarantee that an investment in any ROI Fund will earn any positive return in the short or long term nor is there any guarantee that the ROI Fund's investment objectives will be achieved or that the net asset value per unit will appreciate or be preserved.
SOURCE ROI Capital
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Apr. 30, 2017 04:45 AM EDT Reads: 1,186
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Apr. 30, 2017 03:45 AM EDT Reads: 9,434
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Apr. 30, 2017 03:30 AM EDT Reads: 6,233
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Apr. 30, 2017 02:45 AM EDT Reads: 1,756
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Apr. 30, 2017 02:45 AM EDT Reads: 9,254
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
Apr. 30, 2017 02:45 AM EDT Reads: 3,410
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Apr. 30, 2017 01:45 AM EDT Reads: 1,087
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Apr. 30, 2017 01:15 AM EDT Reads: 16,427
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Apr. 30, 2017 01:15 AM EDT Reads: 1,453
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Apr. 30, 2017 12:30 AM EDT Reads: 1,028
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Apr. 30, 2017 12:15 AM EDT Reads: 1,202
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Apr. 30, 2017 12:00 AM EDT Reads: 1,100
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Apr. 29, 2017 11:15 PM EDT Reads: 2,028
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Apr. 29, 2017 11:15 PM EDT Reads: 9,243
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Apr. 29, 2017 10:45 PM EDT Reads: 1,821