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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 gericon Nov 07, 2022 3:40pm
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Post# 35079969

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

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Summit to be acquired by Dream Industrial & GICThe Transaction, expected to close in the first quarter of 2023, is subject to customary conditions, including Summit unitholder, court, and regulatory approvals, and will occur via a plan of arrangement under the Canada Business Corporations Act, pursuant to which the Joint Venture will acquire all of the assets and assume all of the liabilities of the REIT and Summit will pay a special distribution and redeem all of its units for $23.50 per unit in cash. The Arrangement Agreement contains customary terms and conditions, including deal protections. Summit unitholders of record as of October 31, 2022 will receive the previously declared monthly distribution for October that will be paid on November 15, 2022, following which Summit has agreed to suspend its monthly distribution through closing.
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