/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, April 3 /CNW/ - Summit Real Estate Investment Trust ("Summit")
announced today that, effective April 1, 2007, it has successfully completed
its internal reorganization in connection with the previously completed
acquisition of Summit by ING Real Estate Canada Trust. As a result of the
reorganization, ING Summit Industrial Fund LP is the successor to Summit and
has acquired all of Summit's industrial properties and related obligations
including the obligations under its unsecured Series A and Series B debentures
(the "Debentures"). Summit will remain a co-borrower under the Debentures.
ING Summit Industrial Fund LP, which will continue as Canada's largest
industrial landlord, is managed by ING Real Estate Canada LP. ING Real Estate
Canada LP is part of the global ING Real Estate business and is one of
Canada's largest real estate management companies providing real estate fund
management, portfolio management, asset management and property management,
including sales, acquisitions, development and leasing.
Over time ING Real Estate Canada intends to offer a diverse range of
investment funds in all segments of the Canadian real estate business.
For further information:
For further information: ING Real Estate Canada LP, Paul Dykeman, Chief
Executive Officer, Toll-Free (866) 786-6481 and Fax Toll-Free (866) 786-1300,