TORONTO, September 27, 2021 / CNW / – Summit Industrial Income REIT (“Summit” or the “REIT”) (TSX: SMU.UN) announced today that it has entered into a new $ 75 million an unsecured green development credit facility (the “Green Development Line”) for a period of 3 years, intended to finance current and future industrial real estate developments. The total size of the credit facility, including the conventional tranche, is $ 100 million. The Green Line of Development is the first labeled Green Loan of this type in Canada and was organized by a Canadian Schedule 1 chartered bank.

“This new facility marks another important milestone for Summit’s ESG initiatives, and we are pleased to align our goal of growing our sustainability platform with the sustainability initiatives of the Canadian banking industry,” said Dayna gibbs, COO of the REIT. “In addition, we are extremely proud to be a market leader in this area as this is the first green development credit line of this type in Canada to date, ”added Ms. Gibbs.

In combination with the existing FPI $ 300 million senior unsecured revolving credit facility, the addition of the Green Development Line brings Summit’s liquidity position to approximately $ 1 billion including cash and potential new funding that may be placed on a portion of the REIT’s unencumbered real estate portfolio.

About the Summit

Summit Industrial Income REIT is an unincorporated open-ended trust focused on growing and managing a portfolio of light industrial properties in key markets across Canada. Summit units are listed on the Toronto Stock Exchange and trade under the symbol SMU.UN. For more information, please visit our website at www.summitIIreit.com.

Caution regarding forward-looking information

This press 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”, “in progress”, “may”, “will”, “project”, ” should ”,“ believe ”,“ plans ”,“ intentions ”,“ objective ”and similar expressions are intended to identify forward-looking information or statements. More specifically and without limitation, this press release contains forward-looking statements and information regarding the objective of building the Summit real estate portfolio. Forward-looking statements and information are based on certain key expectations and assumptions made by Summit, including general economic conditions. Although Summit believes that the expectations and assumptions on which these forward-looking statements and information are based are reasonable, one should not place undue reliance on forward-looking statements and information, as Summit cannot guarantee that they will prove to be correct. By their nature, this forward-looking information is subject to various risks and uncertainties, which could cause actual results and expectations to differ materially from anticipated results or expressed expectations, and given the impact of the COVID pandemic -19 and government actions to contain it, there is inherently more uncertainty associated with the REIT’s assumptions compared to prior periods. These risks and uncertainties include, but are not limited to, tenant risks, the current economic environment, environmental issues, general insured and uninsured risks and the inability of Summit to obtain the required financing and approvals. . Readers are cautioned not to place undue reliance on such forward-looking information, which is given as of the date hereof, and not to use such forward-looking information for purposes other than those for which it is intended. Summit assumes no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Summit Industrial Income REIT

For further information: Dayna Gibbs, COO at (905) 791-1181 ext. 220, [email protected]

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www.summitiireit.com


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