GIC and Dream Industrial REIT to acquire Summit Industrial Income REIT for $4.4bn.

GIC, a sovereign wealth fund to manage Singapore's foreign reserves, and Dream Industrial REIT, a real estate investment trust company, agreed to acquire Summit Industrial Income REIT, an open ended mutual fund trust focused on growing and managing a portfolio of light industrial properties across Canada, for $4.4bn. "We are pleased to provide an immediate and certain premium value to our unitholders through this all-cash transaction with GIC and Dream. The entire Board of Trustees and management team are proud to have executed on our strategy to develop and aggregate an attractive, diversified portfolio with a team that is dedicated to delivering best-in-class services to our tenants, and this value optimization transaction represents a successful culmination of these efforts. We are confident this transaction is in the best interest of the REIT and unitholders," Paul Dykeman, Summit CEO and Trustee.