summit industrial income reit investor presentation

(in $ thousands, except per Unit amounts), Regular Distributions per Unit declared to Unitholders (2), Special Distributions per Unit declared to Unitholders (7), Total Distributions per Unit declared to Unitholders (2), Regular FFO payout ratio without DRIP benefit (1), Regular FFO payout ratio with DRIP benefit (1), FFO including net realized gain (loss) (1)(5), FFO per Unit including net realized gain (loss) (1)(5), FFO including net realized gain (loss) payout ratio without DRIP benefit (1)(5), FFO including net realized gain (loss) payout ratio with DRIP benefit (1)(5), Total debt (loans and borrowings and lease liability), Weighted average effective mortgage interest rate, Total GLA (in thousands of square feet)(3), (1) Non-GAAP measure. In conjunction with the acquisition, the REIT sold its 50% interest in a 22,023 square foot office building located in Boisbriand, Quebec for cash proceeds of approximately $5.8 million. MORE, Our Mission is to provide best-in-class properties and services to our tenants and solid, stable and 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. Summit Industrial Income REIT ( Summit or the REIT ) (TSX: SMU.UN) announced today that it has completed its previously announced public offering (the Offering ) of 15,055,000 units at a price of $9.30 per unit for total gross proceeds of approximately $140 million, which includes proceeds from the partial exercise of an overallotment option to purchase an additional 1,605,000units. The property is leased to a national logistics company under a long-term lease with fourteen years remaining. List View; Grid View focused For our tenants, our goal is to provide modern, efficient, high quality industrial properties Company Participants. 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. Notify me of new Company events. ft. of gross leasable area ("GLA") for $180.3 million, and sold two properties, including one non-core asset located in Edmonton for $1.95 million, and the DC2 data centre project in the GTA for a realized gain of $21.0 million ($0.153 per Unit). for both our tenants and our investors. Stocks 36 mins Five Star Senior Living Inc. 2020 Q3 – Results – Earnings Call Presentation Seeking Alpha Summit Industrial Income REIT is an open-ended mutual fund real estate investment trust focused on growing and managing a portfolio of light industrial properties across Canada. Summit Industrial Income REIT (Summit or the REIT) (TSX: SMU.UN) announced today that it has replaced previously-arranged bridge loans used to complete recent acquisitions with permanent long-term fixed rate mortgage financing. Non-GAAP Measures The REIT prepares and releases condensed consolidated interim financial statements prepared in accordance with IFRS (GAAP). best locations close to major transportation links and high growth population centres. On October 13, 2020, the REIT acquired an undivided interest in a 244,633 square foot Class A single-tenant warehousing and logistics facility located at 123 Great Gulf Drive in Vaughan, Ontario for a purchase price of $47.3 million. The REIT completed 1.8 million square feet of 2020 lease renewals to date with a strong retention rate of 88.0%. In the REIT's target markets of Toronto and Montreal, same property NOI1 for the nine months ended September 30, 2020 rose 4.2% and 2.8%, respectively, compared to the same prior year period, while the Alberta portfolio contributed 1.2% to same property NOI1 growth. Learn More, The Canadian light industrial sector has consistently demonstrated At September 30, 2020, the REIT's portfolio totaled 153 properties aggregating 18.2 million square feet with a net book value of approximately $2.7 billion. Summit Industrial Income REIT (Summit or the REIT) (TSX: SMU.UN) announced today a $0.045 per Unit cash distribution to be paid on March 13, 2020 to Unitholders of record on February 29, 2020. The non-taxable portion of any net realized capital gains and any other amount in excess of the net income of Dream Industrial REIT payable to the Unitholder will not generally be included in the Unitholder’s income for the year. Summit Industrial Income REIT is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties across Canada. Centuria Industrial REIT - Investor Presentation. Summit Industrial Income REIT (Summit II or the REIT) (TSX: SMU.UN) announced today that it will be issuing its results for the three months and year ended December 31, 2019 on the afternoon of Wednesday, February 19, 2020. A $91 million twelve-month bridge loan arranged to complete the acquisition of a Montreal property portfolio in December 2018 has now been refinanced with new ten … Non-GAAP measure. Summit II’s Condensed Consolidated Interim Financial Statements and MD&A for the three and nine months ended September 30, 2020 are available on the REIT’s website at www.summitiireit.com.. About Summit II Summit Industrial Income REIT is an unincorporated open-end REIT focused on growing and managing a portfolio of light industrial and other properties across Canada. Summit Industrial Income REIT ("Summit II" or the "REIT") (TSX: SMU.UN) announced solid operating and financial performance for the three and nine months ended September 30, 2020. The weighted average effective interest rate on the REIT's mortgage portfolio was 3.64% at September 30, 2020 compared to 3.69% at September 30, 2019. (2) Includes REIT Units and Class B exchangeable units (collectively, the "Units"). News; Investor Conference Calls; Presentations; Sign Up to Receive News; Investor Fact Sheet ... Stock Information Summit Industrial Income REIT . Summit II's Condensed Consolidated Interim Financial Statements and MD&A for the three and nine months ended September 30, 2020 are available on the REIT's website at www.summitiireit.com. Investor Information. in the data centre property and repayment of mezzanine loans. More particularly and without limitation, this news release contains forward looking statements and information concerning Summit II's belief that it is on track for another record year in 2020, Summit II's returned focus to growth activities and Summit II's proactive approach to addressing lease expiries. Summit Industrial Income REIT (Summit or the REIT) (TSX: SMU.UN) announced today that it has waived conditions and will acquire a 116,818 square foot light industrial property well located in Oakville, Ontario. Summit Industrial Income REIT ("Summit" or the "REIT") (TSX: SMU.UN) today provided an update on its rent collections for the month of August 2020. Combining Summit Industrial Income REIT's Debt And Its 4.4% Return On Equity. Stock Chart. Summit Industrial Income REIT is an open-ended mutual fund trust, which engages in growing and managing a portfolio of light industrial properties. Summit's units are … Holders of units of a subsidiary of the REIT that are exchangeable into trust units of the REIT will receive a distribution equal to $0.045 per unit. To access the audio webcast please access the link on the website at www.summitiireit.com. On August 27, 2020, the REIT completed a successful bought deal offering of 14,375,000 Trust Units at a price of $12.00 per unit for total gross proceeds of approximately $172.5 million, including proceeds from the full exercise of the over-allotment option. TORONTO, Feb. 3, 2020 /CNW/ – Summit Industrial Income REIT (“Summit II” or the “REIT”) (TSX: SMU.UN) announced today that it will be issuing its results for the three months and year ended December 31, 2019 on the afternoon of Wednesday, February 19, 2020.A conference call hosted by Summit II’s management team will be held on Thursday, February 20, 2020 at 8.30 am EST. Summit Industrial Income REIT (Summit or the REIT) (TSX: SMU.UN) announced today that it has waived conditions and will acquire 100% of a 187,245 square foot single tenant cold storage facility located in Mississauga, Ontario (the Transaction). The new $40.0 million mortgage replaced the assumed mortgage of $21.0 million at a blended average interest rate of 3.45% (interest rate of 3.05% on the new debt) for an 8-year term (increase from 1.75-year term). Ross Drake - CFO. Summit Industrial Income REIT is an open-ended mutual fund real estate investment trust 21 mins Summit Industrial Income REIT Announces December 2020 Cash Distribution Business Insider 2 hours Commodities Rallied As U.S. REITs Tumbled Last Week Seeking Alpha 4 hours Realty Income Is Still A Solid Investment, But Don’t Ignore More Attractive Net Lease REITs Seeking Alpha PROACTIVE LEASING PROGRAM Occupancy in the REIT's portfolio was 98.7% at September 30, 2020 with a weighted average lease term of approximately 5.4 years. Completed one-year extension on remaining $100.0 million non-revolving bridge credit facility to November 1, 2021 at same terms of original facility. SOLID BALANCE SHEET AND LIQUIDITY POSITION Total assets increased to $2.8 billion at September 30, 2020, up from $2.6 billion as at December 31, 2019 due to the acquisition of nine properties. At September 30, 2020, the REIT's debt leverage ratio1 was 39.8% compared to 37.8% at September 30, 2019. View All Centuria Industrial REIT News. Net rental income for the three and nine months ended September 30, 2020 increased 41.1% and 40.8%, respectively, compared to the same prior year periods due to the increase in same property NOI1, higher overall rental rates on leasing activities, contractual steps in rent, and accretive acquisitions. . A conference call hosted by Summit IIs management team will be held on Thursday, February 20, 2020 at 8.30 am EST. The REIT has presented such non-GAAP measures as management believes the measures are a relevant measure of the ability of the REIT to earn and distribute cash returns to Unitholders and to evaluate the REIT's performance. For the three months ended September 30, 2020, FFO1 was $24.2 million ($0.168 per Unit) up 47.2% from the same prior year period. Sold 50% interest in office building to joint venture partner for $5.8 million. The following slide deck was published by Summit Industrial Income REIT in conjunction with their 2020 Q1 earnings call. Proceeds from the new mortgage financing were used to repay a portion of the REIT's unsecured revolving credit facility. The mortgage proceeds were used to pay down a portion of the unsecured revolving credit facility. 21 mins Summit Industrial Income REIT Announces December 2020 Cash Distribution Business Insider 2 hours Commodities Rallied As U.S. REITs Tumbled Last Week Seeking Alpha 4 hours Realty Income Is Still A Solid Investment, But Don’t Ignore More Attractive Net Lease REITs Seeking Alpha The acquisition will be financed with cash from the REIT's unsecured revolving credit facility and assumed debt on the acquired properties. As of today, all 2018 lease renewals totaling 398,492 square feet have now been completed with a very strong 92.5% retention rate. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Although Summit Industrial Income REIT does use debt, its debt to equity ratio of 0.73 is still low. Summit Industrial Income REIT (Summit or the REIT) (TSX: SMU.UN) announced today a $0.045 per Unit cash distribution to be paid on May 15, 2020 to Unitholders of record on April 30, 2020. On September 17, 2020, the REIT successfully completed an inaugural offering of $250.0 million in 5-year senior unsecured debentures at a fixed annual rate of 2.15%, payable semi-annually in arrears. Overall, 2020 renewals generated an average increase in monthly rents of 19.2% over the expiring rent with a significant 26.8% increase over expiring rents in the REIT's GTA target market. For more information, please visit our website at www.summitiireit.com. Refer to "Section II - Key Performance Indicators - Financial Indicators" of the MD&A for further information (including definitions. Dayna Gibbs - COO. true partner with our tenants as they grow and prosper with us in their chosen businesses. The REIT also completed leasing of 348,675 square feet of vacant space with an average lease term of 6.4 years. Completed 1.8 million sq. The REIT continues to be proactive in addressing lease expiries well in advance. Entered into agreement to acquire remaining 50% interest in two recently constructed properties in Guelph, Ontario totalling 387,610 square feet from joint venture partner for $33.9 million. become As a result of the completion of this transaction, the Trust now internally manages 100% of its investment property portfolio. The investor relations site ("Site") with which this document is associated is maintained by S&P Global Market Intelligence ("S&P") on behalf of the organization featured on the S The REIT's FFO payout ratio1 for the nine months ended September 30, 2020 was a conservative 82.2% (67.1% including the benefit of the REIT's DRIP program) compared to 90.5% (80.2% including the benefit of the REIT's DRIP program) in the same prior year period. the ft. of 2020 renewals with a very strong 88.0% retention rate, generating a 19.2% increase in rents (26.8% in the GTA). Revenues increased by 41.4% in the third quarter and 38.3% year-to-date on portfolio growth, high stable occupancies and rent increases. TORONTO, Dec. 15, 2020 /CNW/ - Summit Industrial Income REIT ("Summit" or the "REIT") (TSX: SMU.UN) announced today a $0.045 per Unit cash distribution to be paid on January 15, 2021 to Unitholders of record on December 31, 2020.. in Send me reminders of Company events. About Summit II Summit Industrial Income REIT is an unincorporated open-end REIT focused on growing and managing a portfolio of light industrial and other properties across Canada. light industrial property sector with a proven track record of generating significant value Summit II's amended and restated distribution reinvestment plan ("DRIP") provides residents of Canada the opportunity to elect to have their cash … Summit Industrial Income REIT is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties across Canada . 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. For the nine months ended September 30, 2020, FFO1 was $69.0 million ($0.492 per Unit) up 44.2% from the same prior year period. Acquired remaining 50% interest in a portfolio of 11 light industrial investment properties located in Montreal, Quebec from joint venture partner for $88.0 million. Rent collection remained strong, with an average of 96.9% of rents collected during the quarter (99.3% including rent deferral agreements in place). 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 growing and managing a portfolio of light industrial properties across Canada. Upcoming Events; Past Events INVESTOR CONFERENCE CALL A conference call will be hosted by Summit II's management team on Tuesday, November 10, 2020 at 8.30 am EST. Summit II's amended and restated distribution reinvestment plan ("DRIP") provides residents of Canada the opportunity to elect to have their cash … Summit II’s Condensed Consolidated Interim Financial Statements and MD&A for the three and nine months ended September 30, 2020 are available on the REIT’s website at www.summitiireit.com.. About Summit II Summit Industrial Income REIT is an unincorporated open-end REIT focused on growing and managing a portfolio of light industrial and other properties across … Media Advisory - Canadian Manufacturers & Exporters 2020 AGM & Manufacturing Economic Outlook . "Importantly, we continue to collect the majority of our monthly rents, with over 99% collected through the third quarter including our agreed-upon rent deferral programs and are well-positioned from an overall liquidity perspective.". 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 The acquisition was financed by the assumption of $31.8 million of mortgage debt bearing an average interest rate of 3.38% and with an average term to maturity of 4.6 years, and cash from the REIT's unsecured revolving credit facility. Summit Industrial Income REIT is a Canada-based open-ended mutual fund real estate investment trust (REIT). These non-GAAP measures should not be construed as alternatives to net income or cash flow from operating activities determined in accordance with GAAP as an indicator of the REIT's performance. Summit Industrial Income REIT is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial and other properties across Canada . with TORONTO, Nov. 9, 2020 /CNW/ - Summit Industrial Income REIT ("Summit II" or the "REIT") (TSX: SMU.UN) announced solid operating and financial performance for the three and nine months ended September 30, 2020. Occupancy strong at 98.8%, up from 98.4% at March 31, 2020 and … solid and stable To view the slides, access the Summit II website at www.summitiireit.com and follow the link on the page. Summit Industrial Income REIT (OTC:SMMCF): Q3 FFO of $0.168Revenue of $46.82M (+41.5% Y/Y) beats by $11.88M.Press Release For our investors, our goal is to maximize funds from operations through effective property (5) The realized gain on sale of investment property is calculated as net proceeds on sale less the actual costs incurred to initially acquire the property and. About Summit II Summit Industrial Income REIT is an unincorporated open-end REIT focused on growing and managing a portfolio of light industrial and other properties across Canada. TORONTO, Dec. 15, 2020 /CNW/ - Summit Industrial Income REIT ("Summit" or the "REIT") (TSX: SMU.UN) announced today a $0.045 per Unit cash distribution to be paid on January 15, 2021 to Unitholders of record on December 31, 2020.. PORTFOLIO GROWTH  During the nine months ended September 30, 2020, the REIT acquired nine light industrial properties, all well-located in the strong Greater Toronto Area market, adding approximately 747,000 square feet of gross leasable area to the portfolio for total costs of approximately $180.3 million. Since these measures are not determined by IFRS, such measures may not be comparable to similar measures reported by other issuers. Debt service and interest coverage ratios1 were 2.11 times and 3.09 times, respectively, for the nine months ended September 30, 2020, an increase from 1.77 times and 2.81 times respectively, for the same prior year period. Dream Industrial REIT pays a monthly distribution to its Unitholders of which only a portion is taxable. Highlights: Revenues increased by 35.9% in second quarter and 36.8% year-to-date on portfolio growth, high stable occupancies and rent increases. secure investment returns to our Unitholders, Investor Summit Industrial Income REIT (" Summit " or the " REIT ") (TSX: SMU.UN) announced today that it has completed its previously announced public offering (the " Offering ") of 14,323,250 units at a price of $13.65 per unit for total gross proceeds of approximately $195.5 million, which includes proceeds from the full exercise of an over–allotment option to purchase an additional 1,868,250 units. Since the onset of the COVID-19 pandemic, the REIT has collected approximately 94.6% of rents (98.5% including rent deferral agreements). Please use the access code 4598606# when requested. Stock Quotes At September 30, 2020, $60.2 million of the available $300.0 million was drawn from the unsecured facility, which was used to fund acquisitions in 2020, as well as to repay $43.6 million in maturing secured mortgage debt and $32.2 million on the non-revolving bridge credit facility. Media Releases › Centuria Industrial REIT. 1.1 billion at September 30, 2020, the trust 's liquidity statements and forward-looking information within the of. Of BBB ( low ) with a very strong 92.5 % retention rate 2.9! Open-End trust focused on growing and managing a portfolio of light Industrial properties Canada! Economic conditions monthly distribution to its Unitholders of which only a portion of the MD & a for information... 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