trending Market Intelligence /marketintelligence/en/news-insights/trending/BcVYZx1geX7GYwbSPr6eLw2 content esgSubNav
In This List

Summit Industrial proceeding with C$72M acquisition of 10-property portfolio

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Summit Industrial proceeding with C$72M acquisition of 10-property portfolio

Summit Industrial Income REIT is proceeding with its C$72.0 million acquisition of a 10-property, 100%-occupied Canadian portfolio encompassing 738,436 square feet of gross leasable area.

The trust said a portion of the purchase price for the portfolio will be paid for with proceeds from its previously announced public offering of new units.

The company noted that the underwriters for its bought-deal unit offering fully exercised their overallotment option to acquire 1,875,000 additional units, resulting in an additional C$13.5 million of gross proceeds.

Summit Industrial's total gross proceeds from the offering stand at about C$103.5 million from the sale of 14,375,000 units.

The company expects to close the offering Dec. 13, while the portfolio purchase is expected to close on or before Dec. 31.