Edition:
United Kingdom

Summit Industrial Income REIT Enters JV With Urbacon Montreal


Wednesday, 27 Dec 2017 

Dec 27 (Reuters) - Summit Industrial Income Reit ::ESTABLISHES JOINT VENTURE PARTNERSHIP WITH EXPERIENCED DATA CENTRE DEVELOPER TO GENERATE SIGNIFICANTLY ACCRETIVE INVESTMENTS.SAYS ENTERED JOINT VENTURE PARTNERSHIP WITH URBACON MONTREAL TO DEVELOP, OWN AND OPERATE DATA CENTRES ACROSS CANADA.‍SAYS EXTENDED A $15.8 MILLION MEZZANINE LOAN TO URBACON​.‍SAYS OVERALL $45 MILLION INITIAL CASH INVESTMENT IN DATA CENTRE PROGRAM PRODUCES GOING IN ACCRETIVE YIELD OF 8%-10%​.SAYS ALSO EXTENDED THREE-YEAR $14.3 MILLION WORKING CAPITAL LOAN TO URBACON. 

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