December 27, 2017 / 5:48 PM / 8 months ago

BRIEF-Summit Industrial Income REIT Enters JV With Urbacon Montreal

Dec 27 (Reuters) - Summit Industrial Income Reit:

* ESTABLISHES JOINT VENTURE PARTNERSHIP WITH EXPERIENCED DATA CENTRE DEVELOPER TO GENERATE SIGNIFICANTLY ACCRETIVE INVESTMENTS

* SAYS ENTERED JOINT VENTURE PARTNERSHIP WITH URBACON MONTREAL TO DEVELOP, OWN AND OPERATE DATA CENTRES ACROSS CANADA

* ‍SAYS EXTENDED A $15.8 MILLION MEZZANINE LOAN TO URBACON​

* ‍SAYS OVERALL $45 MILLION INITIAL CASH INVESTMENT IN DATA CENTRE PROGRAM PRODUCES GOING IN ACCRETIVE YIELD OF 8%-10%​

* SAYS ALSO EXTENDED THREE-YEAR $14.3 MILLION WORKING CAPITAL LOAN TO URBACON Source text for Eikon: Further company coverage:

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