Summit Industrial Income REIT announces terms of public offering and files a final short form prospectus

Summit Industrial Income REIT announces terms of public offering and files a 
final short form prospectus 
/NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE 
UNITED STATES/ 
TORONTO, Feb. 14, 2013 /CNW/ - Summit Industrial Income REIT ("Summit II") 
(TSXV: SMU.UN) announced today that it has, in connection with its previously 
announced marketed public offering, entered into an underwriting agreement 
(the "Underwriting Agreement") with a syndicate of underwriters led by BMO 
Capital Markets which includes CIBC World Markets Inc., RBC Dominion 
Securities Inc., National Bank Financial Inc., Scotia Capital Inc., TD 
Securities Inc. and Canaccord Genuity Corp. (collectively, the "Underwriters") 
to sell 11,120,000 units of Summit II (the "Units") at price of $6.75 per Unit 
for gross proceeds of $75,060,000 (the "Offering"). 
Summit II has also granted the Underwriters an over-allotment option 
exercisable, in whole or in part, to purchase up to an additional 1,668,000 
Units at a price of $6.75 per unit (for estimated additional aggregate gross 
proceeds to Summit II of $11,259,000 if the over-allotment option is exercised 
in full) for a period of 30 days from the closing date of the Offering, to 
cover over-allotments, if any, and for market stabilization purposes. 
Summit II has filed a final short form prospectus dated February 13, 2013 with 
securities authorities in all provinces and territories of Canada (the 
"Prospectus"). A copy is available under Summit II's profile on SEDAR at 
www.sedar.com, once a receipt for the final short form prospectus has been 
issued. 
The Offering is scheduled to close on or about February 26, 2013 and is 
subject to standard closing conditions, as provided in the Underwriting 
Agreement, including approval by the TSX Venture Exchange. 
As previously disclosed, 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 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 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 final short form prospectus available 
on SEDAR at www.sedar.com. 
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 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. 
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 
closing of the Offering , the completion and financing of the Acquisitions 
(including the receipt of any approvals and consents required to complete the 
Acquisitions). 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 pmdykeman@sigmarea.com 
SOURCE: Summit Industrial Income REIT 
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CO: Summit Industrial Income REIT
ST: Ontario
NI: REL FND NEWSTK FND FLOWS  
-0- Feb/14/2013 14:04 GMT
 
 
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