Summit Industrial Income REIT Proposes New Member of Board of Trustees

TORONTO, March 31, 2014 /CNW/ - Summit Industrial Income REIT ("Summit II" or the "REIT") (TSX: SMU.UN) announced today that the Nominating and Governance Committee of the REIT's Board of Trustees has proposed Mr. Michael A.J. Catford to join the REIT's Board of Trustees effective May 7, 2014. Unitholders will be asked to vote in favour of Mr. Catford's appointment to the REIT's Board of Trustees at its upcoming Annual and Special Meeting of Unitholders. It is expected that following his appointment, Mr. Catford will also become a member of the REIT's Audit Committee and Nominating and Governance Committee.

Mr. Catford is retiring from his position as Vice President, Real Estate for the Healthcare of Ontario Pension Plan ("HOOPP") and President of HOOPP Realty Inc., the HOOPP's principal real estate holding company effective April 30, 2014. Under his leadership, HOOPP grew its real estate portfolio from $650 million when he joined in 1996, to a current gross market value of approximately $8.0 billion, including investments in office, industrial, retail and multi-family residential properties across Canada, as well as in the United Kingdom, Europe and the United States. Prior to joining HOOPP, Mr. Catford's real estate career included the provision of consultancy and advisory services with Driver Jonas, an extensive period with Royal LePage in both brokerage and advisory capacities, and store location strategy for Eaton's of Canada. Mr. Catford qualified as a City Planner and holds a Masters of Science Degree from the University of Toronto and a Bachelor of Arts Degree magna cum laude from the State University of New York.  He is a Fellow of the Royal Institution of Chartered Surveyors (FRICS) and a member of NAIOP, ICSC & PREA.

"We are very pleased to put Michael Catford forward as a proposed trustee to join Summit II's Board of Trustees," commented Lou Maroun, Chairman. "Michael will bring extensive real estate experience to the Board and to the REIT, and we look forward to working with him in the years ahead."

About Summit II
Summit Industrial Income REIT is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties across Canada. Summit II's units are listed on the TSX and trade under the symbol SMU.UN. For more information, please visit our web site at www.summitIIreit.com.

Caution Regarding Forward Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "goal" and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by Summit II. Although Summit II believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Summit II can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward looking information for anything other than its intended purpose. Summit II undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: Summit Industrial Income REIT

Paul Dykeman, CEO at [phone]
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