Dream Residential REIT has launched a strategic review to help boost its unit price.

Toronto-based Dream announced that its board has initiated a process to identify, evaluate and pursue strategic alternatives aimed at maximizing unitholder value. The board, working with management, will retain a financial advisor to assess and explore available options.

The decision comes amid a persistent gap between Dream’s trading price and its net asset value per unit, as well as management’s assessment of its intrinsic value, said the REIT. Given this disconnect, the board determined that a full review of the business and organization is in the best interest of Dream and its unitholders.

“We continue to be pleased with the overall operational and financial performance of the REIT,” said Brian Pauls, Dream’s CEO. “However, there continues to be a disconnect between our trading price and the intrinsic value of the REIT.

”With the support of the board of trustees, we are in the early stages of undertaking a comprehensive review to identify, evaluate and pursue a range of strategic alternatives with a focus on maximizing unitholder value.”

Dream has not set a definitive timeline for completing the review or for any potential transactions. The process remains subject to various unknown factors, including costs, structure, terms, and timing. There is no assurance that the engagement of a financial advisor or the strategic review will result in a transaction or initiative, or that any such action will impact Dream’s financial condition, liquidity, or results of operations, said the REIT.

Dream stated that it does not intend to disclose further developments unless it is determined that disclosure is necessary, appropriate, or required.