Summit Industrial Income REIT (TSX:SMU.UN) is seeking acquisitions. Summit has entered into an agreement with a syndicate of underwriters to sell, on a bought deal basis, 6.46 million units at a price of $6.2 per Unit for gross proceeds to Summit of approximately $40 million. Summit intends to use the net proceeds from the Offering to reduce outstanding indebtedness, which may be subsequently redrawn and applied as needed for funding of future acquisitions, and for general trust purposes.