Under the terms of the Arrangement Agreement, Summit unitholders will receive
'We are pleased to provide an immediate and certain premium value to our unitholders through this allcash transaction with GIC and Dream,' said
Summit has a premier portfolio of industrial properties defined by strong sector fundamentals, resilient cash flows, and stable market rent growth in key markets across
'We have been impressed by Summit and their continued strong execution and we are thrilled to welcome an exceptional team to Dream,' said
About
About GIC
GIC is a leading global investment firm established in 1981 to secure
About
Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at
Caution Regarding Forward Looking Information
This news 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', 'ongoing', 'may', 'will', 'project', 'should', 'believe', 'plans', 'intends', 'goal' and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information concerning the Transaction and the terms thereof; the anticipated closing of the Transaction including the timing thereof; the release third quarter financial results of Summit; the expected October monthly distribution and the suspension of distribution thereof of Summit. There can be no assurance that the proposed Transaction will be completed or that it will be completed on the terms and conditions contemplated in this news release. The proposed Transaction could be modified, restructured or terminated in accordance with its terms. Forward-looking statements are based on information available at the time they are made, underlying estimates and assumptions made by management and management's good faith belief with respect to future events, performance and results. Such assumptions include, without limitation, expectations and assumptions concerning the market price of the Units, the anticipated benefits of the Transaction to unitholders, the receipt in a timely manner of regulatory, court, unitholder and other approvals for the Transaction, and the availability of cash flow from operations to meet monthly distributions. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed, and given the impact of the COVID-19 pandemic and government measures to contain it, as well as the current geopolitical environment, there is inherently more uncertainty associated with the REIT's assumptions as compared to prior periods. These risks and uncertainties include, but are not limited to, in ability to satisfy the conditions applicable to the Transaction, tenant risks, interest rate risk, inflation risks; current economic environment, including disputes between nations, war and international sanctions, environmental matters and general insured and uninsured risks. A discussion of other risks that impact Summit, DIR and Dream can also be found in their public reports and filings which are available under their respective profiles at www.sedar.com. Summit, DIR and Dream undertake no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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