Slate Retail REIT Announces Acquisition of Shopping Center in Waterbury, Connecticut
TORONTO, July 29, 2014 /CNW/ - Slate Retail REIT (TSX: SRT.U / SRT.UN) ("Slate Retail" the "REIT") today announced that it has entered into a binding agreement to purchase Waterbury Plaza, a 100% occupied, 141,443 square foot grocery-anchored shopping center in Waterbury, Connecticut for U.S.$27.3 million (U.S.$193 per square foot).
The REIT continues to execute on its growth plan as this will be the third acquisition by the REIT funded with existing available capital resources. The property is anchored by Stop & Shop, a wholly owned subsidiary of the Dutch supermarket operator Ahold.
The acquisition is expected to be completed in the third quarter 2014 and remains subject to customary closing conditions.
About Slate Retail REIT
Slate Retail REIT is an open-ended real estate investment trust focused on U.S. grocery-anchored real estate. The REIT's portfolio includes 30 properties located primarily across the top 50 U.S. metro markets. The REIT is focused on maximizing value through internal organic rental growth and strategic acquisitions. For more information, please visit www.slateretailreit.com.
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