Summit Industrial Income REIT
Summit Industrial Income REIT
Sector: Real Estate
Description
Summit Industrial Income REIT is a real estate investment trust focused on providing commercial and industrial real estate on lease.
It is a mutual fund, open-ended REIT that manages a portfolio of light industrial properties, including light assembly and shipping, warehousing and storage, call centers, etc.
Summit Industrial Income REIT has a Pan-Canada presence with operations at key locations in Alberta, New Brunswick, Ontario, British Columbia and Quebec.
The company reportedly focuses on managing properties with attractive yield, acquiring and development opportunities and innovative financing.
Summit Industrial Income claims to provide high quality and modern industrial properties in the best locations having transportation links. Light industrial properties are located close to well-connected transportation routes across the cities.
The properties provide technical support, call centers, warehousing, storage purposes, light assembly, shipping, professional services and other facilities. These properties generally do not conduct any heavy industrial activities, the REIT firm claims.
Summit Industrial Income REIT claims that factors such as lower operating costs, lower market rent volatility, broad tenant base, low capital expenditure, leasehold improvement and low maintenance costs support its growth.
The company says it adds value for tenants and investors by managing returns and maintaining accretive profits.
Summit Industrial Income REIT also claims to minimize risk through a diversified portfolio and acquiring industrial properties with attractive yields.
The REIT firm also focuses on tenant retention and optimization of rental rates to hold a competitive position in respective geographic markets.
The company recently entered into a agreement, wherein it will acquire 50 per cent interest in two properties, including 425 Bingemans Centre Drive in Ontario and the future Highway 7 realignment.
On May 10, 2021, it acquired interest in four development sites totaling 50 acres and intends to expand its pipeline of projects in the Greater Toronto Area.
The units with the ticker ‘SMU.UN’ trade on the Toronto Stock Exchange.
Peers
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