Summit Industrial Income REIT completes C$200M equity offering

On March 31, 2022, Summit Industrial Income REIT (Summit) announced the completion of its equity offering (the Offering) of 9,030,000 Units of the REIT at a price of C$22.15 per Unit for gross proceeds to Summit of approximately C$200 million. In addition, Summit has granted the Underwriters an over-allotment option to purchase up to an additional 1,354,500 Units. The Offering was completed on a bought deal basis by a syndicate of underwriters led by BMO Capital Markets.

Summit Industrial Income REIT is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties across Canada. Summit's units are listed on the TSX.

McCarthy Tétrault LLP advised Summit with a team led by Andrew Parker and Heidi Gordon that included Hailey Schenker, Rebecca Scott (Business) , Gordon Baird (Financial Services), and Pat McCay and Dean Xiao (Tax).