Slate U.S. Opportunity (No. 2) Realty Trust to Acquire Retail Asset in Georgia
/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Feb. 25, 2013 /CNW/ - Slate U.S. Opportunity (No. 2) Realty Trust (the "Trust") announced today that it has entered into a binding agreement to purchase Douglas Commons Shopping Center. Douglas Commons Shopping Center is a 97,027 square foot grocery-anchored center in the Atlanta MSA and will be acquired for U.S $12,000,000 (U.S. $124 PSF) at an approximate 8.3% going-in cap rate. The anchor tenant is Kroger. The acquisition is expected to be completed in March 2013 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 over 50 commercial real estate assets across North America with a total value of approximately C$1.1 billion. Slate's in-house team of asset management professionals have over 80 years of combined experience. The company manages and co-invests in the Trust, Slate U.S. Opportunity (No. 1) Realty Trust, and a closed-end fund of U.S. retail assets.
SOURCE: SLATE PROPERTIES INC.For further information:
Blair Welch, Partner, Tel: (416) 644-4267 or Brady Welch, Partner, Tel: (416) 644-4263.