Mr. Paul Dykeman reports
SUMMIT INDUSTRIAL INCOME REIT ANNOUNCES COMPLETION OF $149.5 MILLION EQUITY OFFERING
Summit Industrial Income REIT has completed its previously announced public offering of 11.96 million units at a price of $12.50 per unit for total gross proceeds of approximately $149.5-million, which includes proceeds from the full exercise of an overallotment option to purchase an additional 1.56 million units. The offering was completed on a bought deal basis by a syndicate of underwriters led by BMO Capital Markets.
The REIT intends to use the net proceeds from the offering to repay existing indebtedness, to finance future acquisitions and for general trust purposes.
About Summit Industrial Income REIT
Summit Industrial Income is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties across Canada.
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