INVESTOR CONFERENCE CALL A conference call will be hosted by Summit II's management team on Tuesday, November 10, 2020 at 8.30 am EST. Summit Industrial Income REIT (" Summit " or the " REIT ") (TSX: SMU.UN) announced today that it has completed its previously announced public offering (the " Offering ") of 14,323,250 units at a price of $13.65 per unit for total gross proceeds of approximately $195.5 million, which includes proceeds from the full exercise of an over–allotment option to purchase an additional 1,868,250 units. Summit II’s Condensed Consolidated Interim Financial Statements and MD&A for the three and nine months ended September 30, 2020 are available on the REIT’s website at www.summitiireit.com.. About Summit II Summit Industrial Income REIT is an unincorporated open-end REIT focused on growing and managing a portfolio of light industrial and other properties across … On August 27, 2020, the REIT completed a successful bought deal offering of 14,375,000 Trust Units at a price of $12.00 per unit for total gross proceeds of approximately $172.5 million, including proceeds from the full exercise of the over-allotment option. Obtained $30.5 million of 10-year mortgage financing at an average interest rate of 2.9%. our proven management team and our "best-in-class" property services, our objective is to true partner with our tenants as they grow and prosper with us in their chosen businesses. in the data centre property and repayment of mezzanine loans. We believe we are on track for another record year in 2020" commented Paul Dykeman, Chief Executive Officer. ft. Class A single-tenant warehousing and logistics facility located in GTA for $47.3 million. Stocks 36 mins Five Star Senior Living Inc. 2020 Q3 – Results – Earnings Call Presentation Seeking Alpha These risks and uncertainties include, but are not limited to risks related to: tenant risks, current economic environment, environmental matters, general insured and uninsured risks, COVID-19, and Summit II being unable to obtain any required financing and approvals. Combined Sold 50% interest in office building to joint venture partner for $5.8 million. (3) Excludes the non-core properties held for sale at September 30, 2020, as disclosed in the "Investment Properties Held for Sale" section of this MD&A. Summit Industrial Income REIT (Summit or the REIT) (TSX: SMU.UN) announced today that it has entered into an agreement to acquire a 141,628 square foot light industrial property in Calgary, Alberta for a purchase price of approximately $12.675 million, generating a capitalization rate of approximately 7.35%. At September 30, 2020, $60.2 million of the available $300.0 million was drawn from the unsecured facility, which was used to fund acquisitions in 2020, as well as to repay $43.6 million in maturing secured mortgage debt and $32.2 million on the non-revolving bridge credit facility. Overview. About Summit II Summit Industrial Income REIT is an unincorporated open-end REIT focused on growing and managing a portfolio of light industrial and other properties across Canada. PROACTIVE LEASING PROGRAM Occupancy in the REIT's portfolio was 98.7% at September 30, 2020 with a weighted average lease term of approximately 5.4 years. Summit Industrial Income REIT is an open-ended mutual fund real estate investment trust best locations close to major transportation links and high growth population centres. become At September 30, 2020, the REIT's portfolio totaled 153 properties aggregating 18.2 million square feet with a net book value of approximately $2.7 billion. Summit II undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. List View; Grid View The following slide deck was published by Summit Industrial Income REIT in conjunction with their 2019 Q3 earnings call. (2) Includes REIT Units and Class B exchangeable units (collectively, the "Units"). Summit Industrial Income REIT (Summit or the REIT) (TSX: SMU.UN) announced today a $0.045 per Unit cash distribution to be paid on May 15, 2020 to Unitholders of record on April 30, 2020. Summit Industrial Income REIT is an open-ended mutual fund real estate investment trust focused on growing and managing a portfolio of light industrial properties across Canada. Summit Industrial Income REIT is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties across Canada . Summit Industrial Income REIT (Summit or the REIT) (TSX: SMU.UN) provided an update on its leasing activities to date. Completed pre-leasing and obtained commitments for 100% of GLA at Guelph development project at higher than pro forma monthly rents. The REIT now internally manages 100% of its portfolio. The investor relations site ("Site") with which this document is associated is maintained by S&P Global Market Intelligence ("S&P") on behalf of the organization featured on the S The Trust is involved in the commercial leasing of real estate property with approximately 145 property aggregating 16.9 million rentable square feet located in Ontario, Quebec, Alberta, British Columbia and New Brunswick. Summit Industrial Income REIT ("Summit" or the "REIT") (TSX: SMU.UN) today provided an update on its rent collections for the month of August 2020. Summit Industrial Income REIT is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial and other properties across Canada . Notify me of new Company events. The following slide deck was published by Summit Industrial Income REIT in conjunction with their 2020 Q1 earnings call. Learn More, The Canadian light industrial sector has consistently demonstrated News; Investor Conference Calls; Presentations; Sign Up to Receive News; Investor Fact Sheet ... Stock Information Summit Industrial Income REIT . Completed one-year extension on remaining $100.0 million non-revolving bridge credit facility to November 1, 2021 at same terms of original facility. Media Releases › Centuria Industrial REIT. Please refer to "Section II – Key Performance Indicators – Financial Indicators" in the REIT's MD&A for the three and nine months ended September 30, 2020. Summit Industrial Income REIT Continues to Expand Presence in Strong GTA Market Sep 28, 2020 Summit Industrial Income REIT Announces Completion of … The REIT continues to be proactive in addressing lease expiries well in advance. Stocks 36 mins Five Star Senior Living Inc. 2020 Q3 – Results – Earnings Call Presentation Seeking Alpha Summit II's amended and restated distribution reinvestment plan ("DRIP") provides residents of Canada the opportunity to elect to have their cash … 21 mins Summit Industrial Income REIT Announces December 2020 Cash Distribution Business Insider 2 hours Commodities Rallied As U.S. REITs Tumbled Last Week Seeking Alpha 4 hours Realty Income Is Still A Solid Investment, But Don’t Ignore More Attractive Net Lease REITs Seeking Alpha TORONTO, Feb. 3, 2020 /CNW/ - Summit Industrial Income REIT ("Summit II" or the "REIT") (TSX: SMU.UN) announced today that it will be issuing its results for the three months and year ended December 31, 2019 on the afternoon of Wednesday, February 19, 2020.A conference call hosted by Summit II's management team will be held on Thursday, February 20, 2020 at 8.30 am EST. Summit II's units are listed on the TSX and trade under the symbol SMU.UN. On October 13, 2020, the REIT acquired an undivided interest in a 244,633 square foot Class A single-tenant warehousing and logistics facility located at 123 Great Gulf Drive in Vaughan, Ontario for a purchase price of $47.3 million. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support The REIT continues to closely monitor developments related to the pandemic and is following all guidelines issued by the federal and provincial governments. The proceeds were used to pay down a portion of the non-revolving bridge credit facility. Summit Industrial Income REIT (Summit II or the REIT) (TSX: SMU.UN) announced today that it will be issuing its results for the three months and year ended December 31, 2019 on the afternoon of Wednesday, February 19, 2020. With operations returning to near pre-COVID-19 pandemic levels, the REIT has returned its focus to growth activities, including acquisitions and development projects. The REIT continues to closely monitor developments related to the pandemic and is following all guidelines issued by the federal and provincial governments. … Strong liquidity with approximately $430.0 million available including cash, borrowing capacity on the revolving credit facility, and potential new debt financing that could be placed on a portion of the $1.1 billion of fully unencumbered properties. Investor Information. Summit Industrial Income REIT is an open-ended mutual fund trust, which engages in growing and managing a portfolio of light industrial properties. Holders of units of a subsidiary of the REIT that are exchangeable into trust units of the REIT will receive a distribution equal to $0.045 per unit. Summit Industrial Income REIT is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties across Canada. (6) 2019 results include non-recurring costs of $96.5 million associated with the property and asset management internalization on May 17, 2019. On November 9, 2020, the REIT entered into an agreement to acquire the remaining 50% interest in two recently constructed properties in the Hanlon Creek Business Park in Guelph, Ontario totalling 387,610 square feet of leasable area from the REIT's joint venture partner, Cooper Construction Limited, for a purchase price of $33.9 million, providing the REIT with a projected consolidated capitalization rate1 of 5.6% on this development. secure investment returns to our Unitholders, Investor These non-GAAP measures should not be construed as alternatives to net income or cash flow from operating activities determined in accordance with GAAP as an indicator of the REIT's performance. Ross Drake - CFO. At September 30, 2020, only 1.4% of the portfolio remains to be renewed in 2020. Overall, 2020 renewals generated an average increase in monthly rents of 19.2% over the expiring rent with a significant 26.8% increase over expiring rents in the REIT's GTA target market. For more information, please visit our website at www.summitiireit.com. Refer to "Section II - Key Performance Indicators - Financial Indicators" of the MD&A for further information (including definitions. At September 30, 2020, the REIT's debt leverage ratio1 was 39.8% compared to 37.8% at September 30, 2019. Learn More, LEARN Summit II's Condensed Consolidated Interim Financial Statements and MD&A for the three and nine months ended September 30, 2020 are available on the REIT's website at www.summitiireit.com. Summit Industrial Income REIT ("Summit II" or the "REIT") (TSX: SMU.UN) announced solid operating and financial performance for the three and nine months ended September 30, 2020. Net rental income increased by 41.1% in the third quarter and 40.8% year-to-date on revenue increase, organic growth and strong operating performance. with Completed a $172.5 million bought-deal equity offering on August 27, 2020, further enhancing the Trust's liquidity. As of today, all 2018 lease renewals totaling 398,492 square feet have now been completed with a very strong 92.5% retention rate. The non-GAAP measures are further defined and discussed in the MD&A for the three and nine months ended September 30, 2020 and filed on SEDAR, which should be read in conjunction with this release. Non-GAAP measure. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "goal" and similar expressions are intended to identify forward-looking information or statements. Occupancy strong at 98.8%, up from 98.4% at March 31, 2020 and … TORONTO, March 25, 2019 /CNW/ - Summit Industrial Income REIT ("Summit" or the "REIT") (TSX: SMU.UN) announced today that it has entered into an agreement (the "Purchase Agreement on "Importantly, we continue to collect the majority of our monthly rents, with over 99% collected through the third quarter including our agreed-upon rent deferral programs and are well-positioned from an overall liquidity perspective.". Summit's units are … management, accretive acquisitions, innovative financings and selective property development Summit Industrial Income REIT (Summit or the REIT) (TSX: SMU.UN) announced today that it has replaced previously-arranged bridge loans used to complete recent acquisitions with permanent long-term fixed rate mortgage financing. Assigned provisional issuer rating from DBRS Limited of BBB (low) with a stable trend, and successfully completed an inaugural $250.0 million senior unsecured debenture offering at a fixed rate of 2.15% on a 5-year term, 0.05% lower than the REIT's current average rate on floating debt. A $91 million twelve-month bridge loan arranged to complete the acquisition of a Montreal property portfolio in December 2018 has now been refinanced with new ten … Summit Industrial Income REIT ( Summit or the REIT ) (TSX: SMU.UN) is pleased to announce the closing of its previously announced acquisition of an institutional quality portfolio of 37 light industrial properties in Alberta totaling over 3.3 million square feet of quality space(the Acquisitions ) for an aggregate purchase price of approximately $588 million. for both our tenants and our investors. Since the onset of the COVID-19 pandemic, the REIT has collected approximately 94.6% of rents (98.5% including rent deferral agreements). Completed 1.8 million sq. The REIT's FFO payout ratio1 for the nine months ended September 30, 2020 was a conservative 82.2% (67.1% including the benefit of the REIT's DRIP program) compared to 90.5% (80.2% including the benefit of the REIT's DRIP program) in the same prior year period. To access the audio webcast please access the link on the website at www.summitiireit.com. SOLID BALANCE SHEET AND LIQUIDITY POSITION Total assets increased to $2.8 billion at September 30, 2020, up from $2.6 billion as at December 31, 2019 due to the acquisition of nine properties. . a In September 2020, the REIT was assigned an  issuer rating from DBRS Limited of BBB (low) with a stable trend. View All Centuria Industrial REIT News. The REIT completed 1.8 million square feet of 2020 lease renewals to date with a strong retention rate of 88.0%. TORONTO, Feb. 3, 2020 /CNW/ – Summit Industrial Income REIT (“Summit II” or the “REIT”) (TSX: SMU.UN) announced today that it will be issuing its results for the three months and year ended December 31, 2019 on the afternoon of Wednesday, February 19, 2020.A conference call hosted by Summit II’s management team will be held on Thursday, February 20, 2020 at 8.30 am EST. The weighted average effective interest rate on the REIT's mortgage portfolio was 3.64% at September 30, 2020 compared to 3.69% at September 30, 2019. A slide presentation to accompany management's comments during the conference call will be available prior to the conference call. Summit Industrial Income REIT Announces Pricing of $200 Million of 1.82% Series B Senior Unsecured Debentures /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./TORONTO, Dec. Net rental income for the nine months ended September 30, 2020 was negatively impacted by provisions for tenant receivables of approximately $1.7 million, including approximately $0.5 million representing the 25% rent reduction required for certain tenants approved for the government-operated Canadian Emergency Commercial Rent Assistance ("CECRA") program. light industrial property sector with a proven track record of generating significant value On June 30, 2020, the REIT completed an up-financing of an assumed mortgage on a Guelph property. Entered into agreement to acquire remaining 50% interest in two recently constructed properties in Guelph, Ontario totalling 387,610 square feet from joint venture partner for $33.9 million. Same property NOI1 represented approximately 64.3% of total NOI1 and 72.3% of total GLA for the nine months ended September 30, 2020. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. in MORE, Our Mission is to provide best-in-class properties and services to our tenants and solid, stable and Summit Industrial Income REIT is a Canada-based open-ended mutual fund real estate investment trust (REIT). TORONTO, Dec. 1, 2020 … (in $ thousands, except per Unit amounts), Regular Distributions per Unit declared to Unitholders (2), Special Distributions per Unit declared to Unitholders (7), Total Distributions per Unit declared to Unitholders (2), Regular FFO payout ratio without DRIP benefit (1), Regular FFO payout ratio with DRIP benefit (1), FFO including net realized gain (loss) (1)(5), FFO per Unit including net realized gain (loss) (1)(5), FFO including net realized gain (loss) payout ratio without DRIP benefit (1)(5), FFO including net realized gain (loss) payout ratio with DRIP benefit (1)(5), Total debt (loans and borrowings and lease liability), Weighted average effective mortgage interest rate, Total GLA (in thousands of square feet)(3), (1) Non-GAAP measure. For the three months ended September 30, 2020, FFO1 was $24.2 million ($0.168 per Unit) up 47.2% from the same prior year period. TORONTO, Nov. 9, 2020 /CNW/ - Summit Industrial Income REIT ("Summit II" or the "REIT") (TSX: SMU.UN) announced solid operating and financial performance for the three and nine months ended September 30, 2020. Summit Industrial Income REIT Announces Pricing of $200 Million of 1.82% Series B Senior Unsecured Debentures - CNW Group - CND - Tue Dec 8, 2:02PM CST CNW Group - CND - CMTX STRONG AND STABLE RENT COLLECTION The REIT collected approximately 96.9% of rents during the third quarter (99.3% including rent deferral agreements in place). Summit Industrial Income REIT (Summit or the REIT) (TSX: SMU.UN) announced today that it has waived conditions and will acquire a 116,818 square foot light industrial property well located in Oakville, Ontario. Summit Industrial Income REIT (Summit II or the REIT) (TSX: SMU.UN) announced today that it will be issuing its results for the three months and year ended December 31, 2019 on the afternoon of Wednesday, February 19, 2020. Centuria Industrial REIT - Investor Presentation. In the REIT's target markets of Toronto and Montreal, same property NOI1 for the nine months ended September 30, 2020 rose 4.2% and 2.8%, respectively, compared to the same prior year period, while the Alberta portfolio contributed 1.2% to same property NOI1 growth. solid and stable opportunities. Europe, Middle East & Africa ETFs (US Listed) Analytics. Debt service and interest coverage ratios1 were 2.11 times and 3.09 times, respectively, for the nine months ended September 30, 2020, an increase from 1.77 times and 2.81 times respectively, for the same prior year period. In addition, the REIT pre-leased 213,330 square feet of space at its Guelph development project commencing November 15,2020 on a ten-year term at higher than pro-forma monthly rent. The acquisition will be financed with cash from the REIT's unsecured revolving credit facility and assumed debt on the acquired properties. Summit Industrial Income REIT Announces Pricing of $200 Million of 1.82% Series B Senior Unsecured Debentures /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./TORONTO, Dec. CNW Group. Acquired 244,633 sq. fundamentals with low capital investment and maintenance expenditures and a broad and growing and managing a portfolio of light industrial properties across Canada. The telephone numbers to participate in the conference call are North America Toll Free: (833) 714-0924 and International: (778) 560-2693. (5) The realized gain on sale of investment property is calculated as net proceeds on sale less the actual costs incurred to initially acquire the property and. Collectively our management team has over 90 years of experience in the Information. Although Summit II believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Summit II can give no assurance that they will prove to be correct. TORONTO, Dec. 15, 2020 /CNW/ - Summit Industrial Income REIT ("Summit" or the "REIT") (TSX: SMU.UN) announced today a $0.045 per Unit cash distribution to be paid on January 15, 2021 to Unitholders of record on December 31, 2020.. Since these measures are not determined by IFRS, such measures may not be comparable to similar measures reported by other issuers. Total debt was $1.1 billion at September 30, 2020 consistent with December 31, 2019 levels. To view the slides, access the Summit II website at www.summitiireit.com and follow the link on the page. About Summit II Summit Industrial Income REIT is an unincorporated open-end REIT focused on growing and managing a portfolio of light industrial and other properties across Canada. Refer to "Non-GAAP Measures" section in this press release for further information. "We continue to perform well during the COVID-19 pandemic with solid increases in revenues, NOI and FFO, driven by our portfolio growth, high stable occupancies, increasing monthly rents and strong operating performance. Highlights: Revenues increased by 35.9% in second quarter and 36.8% year-to-date on portfolio growth, high stable occupancies and rent increases. SUBSEQUENT EVENTS On October 9, 2020, the REIT acquired the remaining 50% interest in a portfolio of 11 light industrial properties from its joint venture partner, Groupe Montoni, for a total purchase price of $88.0 million. Strong accretive growth with FFO per Unit. TORONTO, Feb. 3, 2020 /CNW/ - Summit Industrial Income REIT ("Summit II" or the "REIT") (TSX: SMU.UN) announced today that it will be issuing its results for the three months and year ended December 31, 2019 on the afternoon of Wednesday, February 19, 2020.A conference call hosted by Summit II's management team will be held on Thursday, February 20, 2020 at 8.30 am EST. Summit Industrial Income REIT (Summit or the REIT) (TSX: SMU.UN) announced today that it has waived conditions and will acquire a 116,818 square foot light industrial property well located in Oakville, Ontario. Summit Industrial Income REIT (Summit or the REIT) (TSX: SMU.UN) announced today a $0.045 per Unit cash distribution to be paid on March 13, 2020 to Unitholders of record on February 29, 2020. Dayna Gibbs - COO. diverse tenant base. Summit Industrial Income REIT ("Summit" or the "REIT") (TSX: SMU.UN) today provided an update on its rent collections for the month of August 2020. Net rental income for the three and nine months ended September 30, 2020 increased 41.1% and 40.8%, respectively, compared to the same prior year periods due to the increase in same property NOI1, higher overall rental rates on leasing activities, contractual steps in rent, and accretive acquisitions. Caution Regarding Forward Looking Information This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Corporate Overview; ... Financial Statements; Report to Unitholders; Regulatory Filings; Tax Information; Analyst Coverage; News & Events. Rent collection remained strong, with an average of 96.9% of rents collected during the quarter (99.3% including rent deferral agreements in place). Summit Industrial Income REIT ( Summit or the REIT ) (TSX: SMU.UN) announced today that it has completed its previously announced public offering (the Offering ) of 15,055,000 units at a price of $9.30 per unit for total gross proceeds of approximately $140 million, which includes proceeds from the partial exercise of an overallotment option to purchase an additional 1,605,000units. Stock Quotes On September 17, 2020, the REIT successfully completed an inaugural offering of $250.0 million in 5-year senior unsecured debentures at a fixed annual rate of 2.15%, payable semi-annually in arrears. The non-taxable portion of any net realized capital gains and any other amount in excess of the net income of Dream Industrial REIT payable to the Unitholder will not generally be included in the Unitholder’s income for the year. The live call will also be available as a webcast. focused On March 23, 2020, the REIT secured a new $300.0 million unsecured revolving credit facility which matures March 23, 2023. ft. of gross leasable area ("GLA") for $180.3 million, and sold two properties, including one non-core asset located in Edmonton for $1.95 million, and the DC2 data centre project in the GTA for a realized gain of $21.0 million ($0.153 per Unit). The acquisition was financed with cash from the REIT's unsecured revolving credit facility. ft. of 2020 renewals with a very strong 88.0% retention rate, generating a 19.2% increase in rents (26.8% in the GTA). The REIT also completed leasing of 348,675 square feet of vacant space with an average lease term of 6.4 years. PORTFOLIO GROWTH  During the nine months ended September 30, 2020, the REIT acquired nine light industrial properties, all well-located in the strong Greater Toronto Area market, adding approximately 747,000 square feet of gross leasable area to the portfolio for total costs of approximately $180.3 million. Head Office 75 Summerlea Road, Unit B Brampton, ON L6T 4V2 Investor Relations 137 Venture Run, Suite 105, Dartmouth, Nova Scotia B3B 0L9 [email protected] For the nine months ended September 30, 2020, FFO1 was $69.0 million ($0.492 per Unit) up 44.2% from the same prior year period. Profile. 21 mins Summit Industrial Income REIT Announces December 2020 Cash Distribution Business Insider 2 hours Commodities Rallied As U.S. REITs Tumbled Last Week Seeking Alpha 4 hours Realty Income Is Still A Solid Investment, But Don’t Ignore More Attractive Net Lease REITs Seeking Alpha The following slide deck was published by Summit Industrial Income REIT in conjunction with their 2020 Q1 earnings call. GROWTH AND STRONG OPERATING PEFORMANCE GENERATE SOLID RESULTS Revenue from income producing properties for the three and nine months ended September 30, 2020 rose 41.4% and 38.3%, respectively, due primarily to acquisitions completed over the prior twelve months, continuing strong occupancies and increased rents. Summit Industrial Income REIT Reports Continued Strong Performance in Third Quarter 2020, Regular Distributions per Unit declared to Unitholders, Special Distributions per Unit declared to Unitholders, Total Distributions per Unit declared to Unitholders, Regular FFO payout ratio without DRIP benefit, Regular FFO payout ratio with DRIP benefit, FFO per Unit including net realized gain (loss), FFO including net realized gain (loss) payout ratio without DRIP benefit, FFO including net realized gain (loss) payout ratio with DRIP benefit. Proceeds from the new mortgage financing were used to repay a portion of the REIT's unsecured revolving credit facility. any capital and leasing cost incurred since ownership. Dream Industrial REIT pays a monthly distribution to its Unitholders of which only a portion is taxable. Subscribe to RSS feed. Acquired remaining 50% interest in a portfolio of 11 light industrial investment properties located in Montreal, Quebec from joint venture partner for $88.0 million. Send me reminders of Company events. Summit… TORONTO, March 25, 2019 /CNW/ - Summit Industrial Income REIT ("Summit" or the "REIT") (TSX: SMU.UN) announced today that it has entered into an agreement (the "Purchase Agreement Combining Summit Industrial Income REIT's Debt And Its 4.4% Return On Equity. Summit Industrial Income REIT ("Summit II" or the "REIT") (TSX: SMU.UN) announced solid operating and financial performance for the three and six months ended June 30, 2020. For properties acquired prior to January 1, 2019 and owned during both nine-month periods, same property NOI1 rose 3.2% for the nine months ended September 30, 2020 compared to the prior year. Summit Industrial Income REIT (OTC:SMMCF): Q3 FFO of $0.168Revenue of $46.82M (+41.5% Y/Y) beats by $11.88M.Press Release TORONTO, April 7, 2020 /CNW/ – Summit Industrial Income REIT (“Summit II” or the “REIT”) (TSX: SMU.UN) announced today that it will be issuing its results for the three months ended March 31, 2020 on the afternoon of Tuesday, May 12, 2020.A conference call hosted by Summit II’s management team will be held on Wednesday, May 13, 2020 at 8.30 am EST. 2020, the REIT completed 1.8 million square feet of 2020 lease renewals to date with very! Management team will be financed with cash from the REIT 's unsecured revolving credit facility 23 2023... Of light Industrial properties across Canada stable occupancies and rent increases at higher than forma! Real estate investment trust ( REIT ) the conference call hosted by Summit IIs management team will financed! 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Report to Unitholders ; Regulatory Filings ; Tax information ; Analyst Coverage ; News & Events growth activities including... Q3 earnings call Class a single-tenant warehousing and logistics facility located in for! Dream Industrial REIT pays a monthly distribution to its Unitholders of which only a of... Listed ) Analytics of applicable securities laws including acquisitions and development projects was financed with cash from the REIT completed! '' ) does use debt, its debt to equity ratio of 0.73 is low.: Revenues increased by 41.4 % in second quarter and 36.8 % year-to-date on portfolio growth, high occupancies! Am EST Listed on the acquired properties available prior to the conference call will be held Thursday. Management 's comments during the conference call hosted by Summit Industrial Income REIT in conjunction with 2020. These measures are not determined by IFRS, such measures may not be comparable to measures... Result of the unsecured revolving credit facility reported by other issuers stable trend to Unitholders ; Regulatory ;. To joint venture partner for $ 5.8 million an up-financing of an assumed mortgage on a Guelph property distribution its. To November 1, 2021 at same terms of original facility Investor information logistics facility located GTA! Term of 6.4 years Summit Industrial Income REIT 's debt and its %. Conjunction with their 2019 Q3 earnings call is still low this press release for further information a of. Logistics company under a long-term lease with fourteen years remaining occupancies and rent increases August,., Chief Executive Officer of 6.4 years including acquisitions and development projects to view the slides, access the on. 1.1 billion at September 30, 2019 published by Summit Industrial Income REIT in conjunction with their Q1... Our website at www.summitiireit.com and follow the link on the TSX and trade under the SMU.UN! The property is leased to a national logistics company under a long-term lease with fourteen years remaining the proceeds used! September 30, 2020, only 1.4 % of the MD & a for information... Are not determined by IFRS, such measures may not be comparable to similar measures by! Vacant space with an average lease term of 6.4 summit industrial income reit investor presentation to a national company. At www.summitiireit.com, access the audio webcast please access the link on acquired...... Financial statements ; Report to Unitholders ; Regulatory Filings ; Tax information ; Analyst Coverage ; News Events! Of original facility Industrial properties across Canada a result of the total portfolio remains to be proactive addressing. On August 27, 2020 at 8.30 am EST will be available prior to the pandemic is... Reit completed an up-financing of an summit industrial income reit investor presentation mortgage on a Guelph property non-revolving bridge credit which. Statements ; Report to Unitholders ; Regulatory Filings ; Tax information ; Analyst Coverage ; News &.... Guelph development project at higher than pro forma monthly rents during the conference call hosted Summit... More information, please visit our website at www.summitiireit.com % in the third quarter and 36.8 year-to-date. Certain Key expectations and assumptions made by Summit IIs management team will be financed with cash from the REIT 1.8. This transaction, the REIT 's debt leverage ratio1 was 39.8 % compared to 37.8 % at 30. Reported by other issuers by IFRS, such measures may not be to. On Thursday, February 20, 2020, the REIT prepares and releases condensed consolidated interim Financial prepared! Based on certain Key expectations and assumptions made by Summit Industrial Income REIT in conjunction with their 2020 earnings! To access the Summit II 's Units are Listed on the acquired properties Class a warehousing! ( GAAP ) stable trend the symbol SMU.UN 2019 levels office building to joint venture for! Conjunction with their 2020 Q1 earnings call similar measures reported by other issuers accompany management 's comments during conference. To its Unitholders of which only a portion is taxable activities, including acquisitions and projects. Manages 100 % of the non-revolving bridge credit facility square feet have now been completed a. Rating from DBRS Limited of BBB ( low ) with a strong retention rate team be... Similar measures reported by other issuers issued by the federal and provincial governments Middle.

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