Toronto cityscape with baseball stadium at dusk mbbirdy/E+ via Getty Images Note: All amounts discussed are in Canadian Dollars. In our previous coverage of Dream Office REIT (TSX:D.UN:CA) we continued to emphasize caution as there was no real clear path to using the NAV discount to one's advantage. On the debt side, the challenges are mild for 2024 but they will get wild when we enter 2025. The debt to EBITDA is now approaching 12.0X and history is littered with companies that started a terminal veloc ...