Slate U.S. Opportunity (No. 3) Realty Trust Provides Update on Recent Acquisition Activity
/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, June 25, 2014 /CNW/ - Slate U.S. Opportunity (No. 3) Realty Trust announced today that it has completed two previously disclosed transactions.
Merchants Crossing, located in Newnan, GA (Atlanta MSA), was purchased at an approximate 7.8% going-in cap rate. The 174,059 square foot property is 78% occupied, anchored by a Kroger grocery store. Lake Raystown Plaza, located in Huntingdon, PA, was purchased at an approximate 8.1% going-in cap rate. The 142,559 square foot property is 96% occupied, anchored by a Giant grocery store. Slate Properties Inc. ("Slate") is the Trust manager.
About Slate Properties Inc.
Slate is a Toronto-based commercial real estate investor and asset manager. Slate's founding partners have nearly two decades of experience in the industry managing complex real estate transactions in domestic and international markets. Since 2005, the company has acquired over C$2.5 billion of commercial real estate assets across North America. The company currently co-invests in and manages various investment vehicles, including the Trust and Slate Retail REIT (TSX: SRT.UN/SRT.U), an open-ended investment trust that is listed on the Toronto Stock Exchange. Slate also owns and manages a portfolio of Canadian office properties with domestic institutional equity.
SOURCE Slate Properties Inc.For further information: Blair Welch, Partner, Slate Properties Inc., 416 644 4267; Brady Welch, Partner, Slate Properties Inc., 416 644 4263