Summit Industrial Income REIT (SMU) 2020年年度报告「TSX」.pdf

1、STRONG PERFORMANCE IN A PIVOTAL YEAR2020 REPORT TO UNITHOLDERS Table of Contents 2 2020 Financial Highlights 3 2020 Operating Highlights 4 Eight Years of Growth and Performance 6 Strong Growth Since Inception 8 Message to Unitholders 14 At a Glance 16 Portfolio by Property 20 Proven,Experienced Mana

2、gement Team 21 Track Record of Growth and PerformanceSummit Industrial Income REIT(“Summit”or the“REIT”)is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties across Canada.2020 was a pivotal year for Summit as,despite restrictions placed on th

3、e Canadian economy by the COVID-19 pandemic,we generated strong and accretive portfolio growth,record operating and financial performance,and enhanced liquidity.Summit II REIT 2020 Report to Unitholders 12020 FINANCIAL HIGHLIGHTS2 Strong Performance in a Pivotal YearYear Ended December 31($,000 Exce

4、pt Per Unit Amounts)2020 2019Revenue from Investment Properties$190,906$142,193 Net Rental Income 140,110 103,075 FFO*94,389 67,156 FFO per Unit*0.651 0.582 FFO Payout Ratio without DRIP Benefit*83.0%91.5%FFO Payout Ratio with DRIP Benefit*67.6%80.1%Weighted Average Units Outstanding(1)145,089 115,4

5、65 As at December 31,2020 Total Assets($,000)$3,172,213$2,608,679 Weighted Average Effective Mortgage(%)3.61%3.68%Weighted Average Mortgage Term(years)5.7 5.8 Leverage(%)*37.4%43.2%Interest Coverage(times)*3.2 2.8 Debt Service Coverage(times)*2.2 1.8 Debt-to-Adjusted EBIDTA(times)*8.8 11.0(1)Include

6、s REIT Units and Class B exchangeable Units*Non-GAAP measure.Refer to“Non-GAAP Measures”section on the back cover of this report for further information.2020 OPERATING HIGHLIGHTSSummit II REIT 2020 Report to Unitholders 3Revenue up 34.3%Occupancy strong at 98.0%Net rental income up 35.9%Same propert