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Summit Industrial Income REIT (SMU_u.TO)

SMU_u.TO on Toronto Stock Exchange

12.97CAD
5 Dec 2019
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Latest Key Developments (Source: Significant Developments)

Summit Industrial Income REIT Sells Interests In Data Centre Projects
Thursday, 12 Sep 2019 

Sept 11 (Reuters) - Summit Industrial Income REIT ::PRESS RELEASE - SUMMIT INDUSTRIAL INCOME REIT SELLS INTERESTS IN DATA CENTRE PROJECTS.SUMMIT INDUSTRIAL INCOME REIT - SOLD ITS INTERESTS IN ITS DATA CENTRES FOR APPROXIMATELY $178 MILLION.SUMMIT INDUSTRIAL INCOME REIT - TRANSACTIONS WILL GENERATE A REALIZED GAIN OF APPROXIMATELY $42.0 MILLION OR $0.35 PER UNIT.  Full Article

Summit Industrial Income REIT Announces Proposed Internalization Of Asset And Property Management
Monday, 25 Mar 2019 

Summit Industrial Income REIT ::SUMMIT INDUSTRIAL INCOME REIT ANNOUNCES PROPOSED INTERNALIZATION OF ASSET AND PROPERTY MANAGEMENT.SUMMIT INDUSTRIAL INCOME REIT - REIT WILL ACQUIRE ALL OF ISSUED AND OUTSTANDING SHARES OF SIGMA ASSET MANAGEMENT FOR TOTAL CONSIDERATION OF $95.0 MILLION.SUMMIT INDUSTRIAL INCOME REIT - $20.0 MILLION OF CONSIDERATION WILL BE SATISFIED WITH CASH, EXPECTED TO BE FUNDED FROM REIT'S REVOLVING OPERATING FACILITY.SUMMIT INDUSTRIAL INCOME REIT - UNITS OF REIT ISSUED AS CONSIDERATION FOR INTERNALIZATION WILL BE SUBJECT TO TWO LOCK-UP PERIODS.SUMMIT INDUSTRIAL INCOME REIT - $75.0 MILLION OF CONSIDERATION WILL BE SATISFIED WITH 6.7 MILLION UNITS OF REIT.SUMMIT INDUSTRIAL INCOME REIT - AT CLOSING, SENIOR MANAGEMENT TEAM OF REIT WILL OWN ABOUT 9% OF OUTSTANDING UNITS.SUMMIT INDUSTRIAL INCOME REIT - DEAL IMMEDIATELY ACCRETIVE TO REIT'S AFFO PER UNIT BY APPROXIMATELY 2.8%.SUMMIT INDUSTRIAL INCOME REIT - UPON CLOSING, PAUL DYKEMAN WILL CONTINUE AS CHIEF EXECUTIVE OFFICER OF REIT PURSUANT TO A 5 YEAR AGREEMENT.  Full Article

Summit Industrial Income REIT Announces Significant Portfolio Growth
Tuesday, 11 Dec 2018 

Dec 11 (Reuters) - Summit Industrial Income REIT ::SUMMIT INDUSTRIAL INCOME REIT ANNOUNCES SIGNIFICANT PORTFOLIO GROWTH.SUMMIT INDUSTRIAL INCOME REIT - HAS WAIVED CONDITIONS AND WILL ACQUIRE PREVIOUSLY-ANNOUNCED PORTFOLIO OF LIGHT INDUSTRIAL PROPERTIES.SUMMIT INDUSTRIAL INCOME REIT - EXPECTED BRIDGE LOAN FACILITIES WILL BE REPLACED WITH PERMANENT FIXED RATE MORTGAGES IN Q1 OF 2019.SUMMIT INDUSTRIAL INCOME REIT - DEAL FOR A TOTAL PURCHASE PRICE OF APPROXIMATELY $328.6 MILLION.SUMMIT INDUSTRIAL INCOME REIT - WILL ALSO ACQUIRE A PORTFOLIO OF FOUR LIGHT INDUSTRIAL PROPERTIES IN ALBERTA FOR ABOUT $97.1 MILLION.SUMMIT INDUSTRIAL INCOME - DEAL TO BE FINANCED BY $140 MILLION EQUITY OFFERING, 2 ANTICIPATED 12-MONTH BRIDGE LOAN FACILITIES, CASH FROM OPERATING FACILITY.  Full Article

Summit Industrial Income REIT Announces Significant Portfolio Growth And $110 Mln Equity Offering
Friday, 30 Nov 2018 

Nov 29 (Reuters) - Summit Industrial Income REIT ::SUMMIT INDUSTRIAL INCOME REIT ANNOUNCES SIGNIFICANT PORTFOLIO GROWTH AND $110 MILLION EQUITY OFFERING.SUMMIT INDUSTRIAL INCOME REIT ANNOUNCES SIGNIFICANT PORTFOLIO GROWTH AND $110 MILLION EQUITY OFFERING.SUMMIT INDUSTRIAL INCOME REIT - DEAL FOR $233.5 MILLION.SUMMIT INDUSTRIAL INCOME REIT - TO ACQUIRE ELEVEN LIGHT INDUSTRIAL PROPERTIES AGGREGATING JUST UNDER 2.1 MILLION SQUARE FEET OF GROSS LEASABLE AREA.SUMMIT INDUSTRIAL INCOME REIT - DEAL FINANCED BY ASSUMPTION OF APPROXIMATELY $38.9 MILLION IN EXISTING MORTGAGES, EQUITY OFFERING.SUMMIT INDUSTRIAL INCOME REIT - TO SELL 11.8 MILLION UNITS AT A PRICE OF $9.30 PER UNIT.  Full Article

Summit Industrial Income REIT To Acquire GTA Logistics Property
Friday, 27 Jul 2018 

July 26 (Reuters) - Summit Industrial Income REIT ::SUMMIT INDUSTRIAL INCOME REIT TO ACQUIRE GTA LOGISTICS PROPERTY.SUMMIT INDUSTRIAL INCOME REIT - DEAL FOR $36.6 MILLION.  Full Article

Summit Industrial Income REIT Announces Acquisition Of Property And New Financing
Thursday, 29 Mar 2018 

March 28 (Reuters) - Summit Industrial Income Reit ::SUMMIT INDUSTRIAL INCOME REIT ANNOUNCES ACQUISITION OF PROPERTY AND NEW FINANCING.SUMMIT INDUSTRIAL INCOME REIT - WILL PAY $14.9 MILLION FOR PROPERTY.SUMMIT INDUSTRIAL INCOME REIT - WAIVED CONDITIONS AND WILL ACQUIRE 100% OF A DISTRIBUTION WAREHOUSE LOCATED IN STRATFORD.SUMMIT INDUSTRIAL INCOME - REPLACED $90.0 MILLION BRIDGE FACILITY ESTABLISHED IN 2017 WITH $88.0 MILLION IN NEW MORTGAGES ON RECENTLY ACQUIRED PROPERTIES.  Full Article

Summit Industrial Income REIT Enters JV With Urbacon Montreal
Wednesday, 27 Dec 2017 

Dec 27 (Reuters) - Summit Industrial Income Reit ::ESTABLISHES JOINT VENTURE PARTNERSHIP WITH EXPERIENCED DATA CENTRE DEVELOPER TO GENERATE SIGNIFICANTLY ACCRETIVE INVESTMENTS.SAYS ENTERED JOINT VENTURE PARTNERSHIP WITH URBACON MONTREAL TO DEVELOP, OWN AND OPERATE DATA CENTRES ACROSS CANADA.‍SAYS EXTENDED A $15.8 MILLION MEZZANINE LOAN TO URBACON​.‍SAYS OVERALL $45 MILLION INITIAL CASH INVESTMENT IN DATA CENTRE PROGRAM PRODUCES GOING IN ACCRETIVE YIELD OF 8%-10%​.SAYS ALSO EXTENDED THREE-YEAR $14.3 MILLION WORKING CAPITAL LOAN TO URBACON.  Full Article