Real Estate Investment Trust Outlook
When peak REIT put its manufacturing properties on the block four years ago, one bidder blew away the opposition with a stunning $2.1-billion cash offer. The champion was a unit of Dutch economic massive ING Groep NV, and the transaction for Summit’s 450 warehouses and industrial unit across the country gave it a much-coveted foothold in Canada’s real estate market. But now the entire portfolio is on the market again, as ING looks to sell assets outside of its home market to bolster its balance sheet after the 2008 banking crisis shook it to its foundations.
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