Slate U.S. Opportunity (No. 1) Realty Trust to Acquire Grocery-Anchored Retail Asset in South Carolina
/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Sept. 26, 2012 /CNW/ - Slate U.S. Opportunity (No. 1) Realty Trust (the "Trust") announced today that it has entered into a binding agreement to purchase Gaston Marketplace, a 44,133 square foot grocery-anchored retail centre in Gaston, South Carolina (Greater Columbia) for U.S.$4,900,000 (U.S.$111 PSF) at an approximate 8.4% going-in cap rate. The asset is 94% occupied, anchored by Food Lion and Family Dollar. The acquisition is expected to be completed in the fourth quarter of 2012 and remains subject to customary closing conditions. Slate Properties Inc. ("Slate") is the Trust manager.
About Slate: Slate is a Toronto-based commercial real estate investor and asset manager. Slate's founding partners have significant experience managing complex real estate transactions in domestic and international markets. Since 2005, the company has acquired 42 commercial real estate assets across North America with a total value of approximately $1 billion. Slate's in-house team of asset management professionals have over 75 years of combined experience.
SOURCE: Slate Properties Inc.For further information:
Blair Welch, Partner, Tel: (416) 644-4267 or Brady Welch, Partner, Tel: (416) 644-4263.