Summit II REIT announces filing of a preliminary short form prospectus and property acquisitions

Summit II REIT announces filing of a preliminary short form prospectus and 
property acquisitions 
TORONTO, Jan. 30, 2013 /CNW/ - Summit Industrial Income REIT ("Summit II") 
(TSXV: SMU.UN) today announced that it has filed a preliminary short form 
prospectus with the securities authorities in all provinces and territories of 
Canada with respect to a proposed offering of its units. 
The offering is being made on an underwritten basis through a syndicate of 
underwriters led by BMO Capital Markets and includes CIBC World Markets Inc., 
RBC Dominion Securities Inc., National Bank Financial Inc., Scotia Capital 
Inc., TD Securities Inc. and Canaccord Genuity Corp. 
Summit II has entered into agreements in connection with five potential 
acquisitions (the ''Acquisitions'') of industrial properties (the "Acquisition 
Properties"). Three of the Acquisitions are in the Greater Toronto Area (the 
''GTA''), one is in Moncton, New Brunswick, and one is in Edmonton, Alberta. 
One of the Acquisitions in the GTA is for a portfolio of eight properties in 
Brampton (the "Brampton Portfolio"). The Acquisitions will be completed 
pursuant to various purchase and sale agreements between a subsidiary of 
Summit II and the vendors of the various properties. None of the Acquisitions 
are conditional on any of the other Acquisitions except that the acquisition 
of the properties that make up the Brampton Portfolio are conditional upon the 
acquisition of all, but not less than all, of the properties that make up the 
Brampton Portfolio. The aggregate purchase price (including closing costs) for 
the Acquisitions is anticipated to be approximately $177 million. The net 
proceeds from the offering of units are expected to be used by Summit II, 
along with cash on hand, an assumed mortgage, certain committed mortgages, 
certain pending mortgages and a bridge facility from an affiliate of BMO 
Capital Markets (if and to the extent required), to fund the purchase of the 
Acquisition Properties. Certain of the Acquisitions may close prior to the 
closing of the offering of units or shortly thereafter and may be funded 
initially without using proceeds from the offering such that the proceeds of 
the offering will be used to pay down indebtedness of Summit II. In the event 
that Summit II is unable to complete all of the Acquisitions, Summit II may, 
in its discretion, elect to acquire less than all of the Acquisition 
Properties. For more information on the Acquisition Properties, please see the 
preliminary short form prospectus. Copies of the preliminary short form 
prospectus relating to this offering of units will be available from the 
underwriters or, under Summit II's profile on SEDAR ( 
As previously announced, Summit II has completed a number of successful 
transactions in recent months including the acquisition of 501 Palladium 
Drive, 200 Iber Road, 240 Laurier Boulevard, 710 Neal Drive and 134 Bethridge 
Road. The first four properties were acquired for $50.1 million, at a 
capitalization rate of 7.9% and these properties were appraised as part of the 
preparation of year-end financial statements at $59.3 million, indicating an 
increase of approximately 18%. As a result, today Summit II is announcing that 
the value of its assets has grown from $12 million in September 2012 to 
approximately $82 million as at December 31, 2012 as a result of the 
transactions and the increased appraised value of those properties. 
The securities offered have not and will not be registered under the United 
States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any 
U.S. State securities laws and may not be offered or sold, directly or 
indirectly, within the United States or its territories or possessions or to 
or for the account of any U.S. person (as defined in Regulation S under the 
U.S. Securities Act) other than pursuant to an available exemption from the 
registration requirements of the U.S. Securities Act. This press release does 
not constitute an offer to sell or a solicitation of an offer to buy any such 
securities within the United States, or its territories or possessions, or to 
or for the account of any U.S. person. 
The offering of units is expected to close by the end of February or early 
March 2013 and is subject to usual conditions. 
About Summit II
Summit Industrial Income REIT is an open-ended mutual fund trust focused on 
growing and managing a portfolio of light industrial properties across Canada. 
Summit II's units are listed on the TSX Venture Exchange and trade under the 
symbol SMU.UN. 
Caution Regarding Forward Looking Information 
This news release contains forward-looking statements and forward-looking 
information within the meaning of applicable securities laws. 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. More particularly and without limitation, this news 
release contains forward looking statements and information concerning the 
proposed offering of units, the completion of the Acquisitions and the 
proposed closing of the offering. The forward-looking statements and 
information are based on certain key expectations and assumptions made by 
Summit II, including identifying qualified candidates. 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. By its nature, such 
forward-looking information is subject to various risks and uncertainties, 
which could cause the actual results and expectations to differ materially 
from the anticipated results or expectations expressed. These risks and 
uncertainties include, but are not limited to, market conditions, tenant 
risks, current economic environment, environmental matters, general insured 
and uninsured risks and Summit II being unable to obtain any required 
financing and approvals. 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. Summit II undertake 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. 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that 
term is defined in the policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release. 
Paul Dykeman, CEO at (902) 448-8044 
SOURCE: Summit Industrial Income REIT 
To view this news release in HTML formatting, please use the following URL: 
CO: Summit Industrial Income REIT
ST: Ontario
-0- Jan/31/2013 00:13 GMT
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