“Following an active and successful year in 2016, our portfolio growth accelerated during and subsequent to the first quarter of 2017, augmented by strong operating performance and our proactive leasing activities,” commented Paul Dykeman, Chief Executive Officer. “Looking ahead, we expect a record year in 2017 as the significant increase in the size and scale of our property portfolio so far this year contributes to our revenue and FFO growth going forward. In addition, we continue to evaluate a number of additional accretive acquisition opportunities that we believe will further strengthen and diversify our asset base over the coming months.”
“We were also pleased to announce a 2.4% increase in cash distributions to Unitholders, a reflection of our solid performance and our confidence in the future,” Mr. Dykeman concluded.
On May 9, 2017 the Board of Trustees of Summit Industrial Income REIT approved a 2.4% increase in monthly cash distributions to $0.043 per unit, or $0.516 per unit on an annualized basis. The increase will apply to unitholders of record on May 31, 2017.
SOURCE Summit Industrial Income REIT