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Summit Industrial Income REIT Unit SMMCF

Financial Services Real Estate REIT - Industrial
Summit Industrial Income REIT is a Canada-based mutual fund trust. The Trust is involved in the commercial leasing of real estate property with property locations in Ontario, Western Canada, Quebec and Atlantic Canada. The company is focused on the light industrial sector of the Canadian real estate industry.


OTCPK:SMMCF - Post by User

Summit Industrial Income REIT Unit > Summit to be acquired by Dream Industrial & GIC
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Comment by junglejameson Nov 07, 2022 8:10am
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Post# 35078309

RE:RE:Summit to be acquired by Dream Industrial & GIC

RE:RE:Summit to be acquired by Dream Industrial & GICDream only 10% of the offer & will manage the assets for GIC, so this a "foreign" take-over.

"GIC and DIR have formed a limited partnership (the "Purchaser") with an ownership structure of 90% and 10%, respectively.

A subsidiary of Dream Unlimited Corporation ("Dream") (TSX: DRM) will be the asset manager for the Joint Venture and DIR will provide property management, accounting, construction management, and leasing services to the Joint Venture at market rates. DIR and Dream intend to continue employing the majority of Summit employees post-closing of the Transaction."

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