LEAGUE Financial Partners

LEAGUE Financial Partners

October 18, 2012 06:00 ET

IGW Public Limited Partnership closes purchase of 13% of Summit Industrial Income REIT (TSX VENTURE:SUM.UN)

VICTORIA, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2012) - LEAGUE Financial Partners, manager of LEAGUE IGW Real Estate Investment Trust is pleased to announce that IGW Public Limited Partnership has purchased 11,110,000 units in the newly formed public REIT - Summit Industrial Income REIT ("Summit II") (TSX VENTURE:SMU.UN) - for an aggregate subscription price of $5,000,000.

"We are excited about the investment in Summit II as it fits our goal of extending IGW's reach in the light industrial sector. The Summit II management team successfully grew the prior Summit REIT into the largest industrial REIT in Canada, selling it in October 2006 for CDN $3.3 billion so it is good to be in at the ground floor of this new fund," commented Adam Gant, Co-Founder, LEAGUE Financial Partners.

"Our goal is to aggressively build our property portfolio and cash flows through accretive acquisitions by capitalizing on the extensive industry relationships we have developed over our decades in the business," added Paul Dykeman, Chief Executive Officer, Summit II. "We believe the Canadian light industrial property sector remains highly fragmented, providing Summit II with an excellent opportunity to build value through the consolidation of this strong and stable business with solid market fundamentals."

Summit Industrial Income REIT has closed on four industrial properties with a portfolio value of $50.1 million.

Company Overview

Since syndicating their first commercial property purchase in 2005, LEAGUE's co-founders Adam Gant and Emanuel Arruda, have grown LEAGUE Financial Partners to manage more than $1 billion worth of assets in Canada.

LEAGUE Financial Partners has rapidly evolved into one of Canada's fastest growing companies, ranking #13 in the 2012 listing of the fastest growing companies in Canada by Profit Magazine. Assets under management include: IGW REIT, a private $300 million Real Estate Investment Trust, comprised of a portfolio of Canadian commercial, industrial and residential properties; the public $430-million Partners REIT (TSX:PAR.UN), an open-end real estate investment trust focused on acquiring and managing a portfolio of retail and mixed-use retail community and neighbourhood centres; and individual Limited Partnerships ranging from office buildings to Big Box retail power centres.

Certain statements included in this press release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "will" and similar expressions to the extent they relate to Partners REIT. The forward-looking statements are not historical facts but reflect Partners REIT's current expectations regarding future results or events. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the timing of the offering, success of the offering, listing of the units, use of proceeds of the Offering, access to capital, regulatory approvals, intended acquisitions and general economic and industry conditions. Although Partners REIT believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein.

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