Summit Industrial Income REIT Announces Proposed Internalization of Asset and Property Management

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“), to internalize the REIT’s asset and property management functions (the “Internalization“). As a result of the Internalization, the annual asset management fee, property management fee, acquisition fee, incentive fee, and other fees payable by the REIT to its external manager, Sigma Asset Management Limited (the “Manager“) will be eliminated. The Internalization is expected to close on or about May 17, 2019, subject to unitholder approval and other customary conditions set forth in ...

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