Summit REIT Secures Financing

Falcon Trust, a trust established and administered by Scotia Capital Inc., successfully priced $147.5 million of Commercial Mortgage Pass-Through certificates on behalf of Summit Real Estate Investment Trust. The transaction, underwritten by Scotia Capital, was completed on October 16, 2002.

Scotia Capital was represented by Juli Morrow, Andrew Wiseman, Jeffrey Shore, Allan Goodman, Victor Liu and Susan Zimmerman of Goodmans LLP. Summit REIT was represented by Goodman and Carr LLP, with a team that included Michael Winton, Stan Wax, Mark Mincer, John Hermann, Gary Kissack, Jonathan Behar, Paul Bleiwas and Barry Tarshis.