Summit Industrial Income REIT completes C$200M equity offering
March 31, 2022
200.00 Million CAD
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).