BRIEF-Summit Industrial Income REIT announces property acquisition and $30 million equity offering

Mon May 30, 2016 4:37pm EDT
 
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May 30 (Reuters) - Summit Industrial Income Reit

* Summit industrial income reit announces property acquisition and $30 million equity offering

* Plans to finance purchase with assumption of a $23.5 million mortgage with balance in cash

* Reit intends to use net proceeds from offering primarily to fund purchase of Edmonton Property

* Acquiring 100% of a 309,077 square foot light industrial property for a purchase price of approximately $33.0 million

* Entered into an agreement to sell, on a bought deal basis, 5 million units of reit at a price of $6.05 per unit Source text for Eikon: Further company coverage: