Slate U.S. Opportunity (No. 1) Realty Trust to Acquire Grocery-Anchored Shopping Centre in the Raleigh-Cary MSA, North Carolina
/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Oct. 22, 2012 /CNW/ - Slate U.S. Opportunity (No. 1) Realty Trust (the "Trust") announced today that it has entered into a binding agreement to purchase Fuquay Crossing, a 124,773 square foot grocery anchored shopping centre for U.S.$13,100,000 (U.S.$105 PSF) at an approximate 8.7% going-in cap rate. The asset is 94% occupied, anchored by a Kroger grocery store on a long-term lease. 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, owned and disposed of over C$1 billion worth of commercial real estate. Slate's in-house team of asset management professionals have over 80 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.