|Date Announced:||March 25, 2019|
|Date Closed:||May 17, 2019|
|Client Name:||Special Committee of Summit Industrial Income REIT|
Summit Industrial Income REIT has entered into an agreement to internalize the REIT's asset and property management functions.
The REIT will acquire all of the issued and outstanding shares of Sigma for total consideration of $95 million. $20 million of the consideration will be satisfied with cash, expected to be funded from the REIT's revolving operating facility, and $75 million of the consideration will be satisfied with 6,666,666 units of the REIT, based on the 30-day volume weighted average trading price of the REIT's units on all exchanges on which there was trading, up to and including March 20, 2019 of $11.25 per unit.