Summit Industrial Income REIT Unit SMMCF

Massive $588 million acquisition and $200mm receipt offering

[MOJOJONO]

huge acquisition with future development opportunities and rent increases. First year cap rate: 5.5%
$200 million subscription receipt @ $12.90/unit.
specified, redeployed resources from data centre sale.
Summit Industrial Income REIT Announces Acquisition of Alberta Light Industrial Portfolio for $588 Million and C$200 Million Offering of Subscription Receipts https://www.globenewswire.com/news-release/2019/10/07/1926079/0/en/Summit-Industrial-Income-REIT-Announces-Acquisition-of-Alberta-Light-Industrial-Portfolio-for-588-Million-and-C-200-Million-Offering-of-Subscription-Receipts.html

[TheeRook]

This post has been removed in accordance with Community Policy

[alialiali]

This post has been removed in accordance with Community Policy

[MOJOJONO]

yes, true enough Alberta has been on a downward tend. However, they've been saying it has been getting difficult to get acquisitions in Ontario. They have identified in previous presentations that Calgary and Edmonton are new growth markets while recognizing low lease and sale activities; rising vacancies; and reduced competition for assets. with this deal and a previous September Calgary

[MOJOJONO]

correction. Alberta properties from 12 to 49. Making Alberta the second largest holding.

[MOJOJONO]

market pushing up REITs. Brief dip yesterday to $12.90 subscription receipt price was a gift. We're almost back to price before the acquisition announcement.

[fatcharlie]

We should see a jump in price on Monday probably will finish around $13.25 to $13.50 next week.