Summit Industrial Income REIT Announces Property Acquisition and $30 Million Equity Offering - Seite 2

The REIT intends to use the net proceeds from the Offering primarily to fund the purchase of the Edmonton Property, the repayment of existing indebtedness, the funding of future acquisitions and for general trust purposes. The Offering is not conditional upon the closing of the Edmonton Property.

The Units will be offered by way of a short form prospectus to be filed with the securities commissions and other similar regulatory authorities in each of the provinces and territories of Canada.

The Units have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the "1933 Act") and may not be offered, sold or delivered, directly or indirectly, in the United States, or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of the 1933 Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy any Units in the United States or to, or for the account or benefit of, U.S. persons.

About Summit

Summit Industrial Income REIT is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties across Canada. Summit's units are listed on the TSX and trade under the symbol SMU.UN. For more information, please visit our web site at www.summitIIreit.com.

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 following: the completion of the acquisition of the Edmonton Property on the terms and conditions described herein; the timing of closing of the acquisition of the Edmonton Property; the expected benefits to the REIT of the acquisition of the Edmonton Property; the completion of the Offering on the terms and conditions described herein and the use of proceeds of the Offering.