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Summit Industrial Income REIT to Acquire Six-Building GTA Industrial Park in Markham

Summit IREIT logoSummit Industrial Income REIT announced that it has waived conditions and will acquire 100% of the Cochrane Business Park, a six-building light industrial campus located in Markham within the Greater Toronto Area ("GTA").

Summit IREIT logoSummit Industrial Income REIT announced that it has waived conditions and will acquire 100% of the Cochrane Business Park, a six-building light industrial campus located in Markham within the Greater Toronto Area (“GTA”). The six buildings total 228,719 square feet of gross leasable area (“GLA”). Summit will pay $45.15 million for the campus, well below replacement cost, funded by its acquisition credit facility and generating a going-in capitalization rate of approximately 4.3%. Closing is expected on or before February 14, 2020.

Full Article: newswire.ca