Slate Retail REIT Announces Acquisition of Shopping Center in Cary, North Carolina

TORONTO, Aug. 11, 2014 /CNW/ - Slate Retail REIT ("Slate Retail" the "REIT") (TSX: SRT.U / SRT.UN) today announced that it has entered into a binding agreement to purchase Wellington Park, a 91% occupied, 102,487 square foot grocery-anchored shopping center in Cary, North Carolina (Raleigh-Cary MSA) for U.S.$15.5 million (U.S.$151 per square foot).

Continuing with its growth momentum, this will be the fourth acquisition by the REIT funded with existing available capital resources. The property is anchored by Lowes Foods which operates over 100 full-service supermarkets in North Carolina, South Carolina and Virginia.

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.

SOURCE: Slate Retail REIT

For further information:

Blair Welch
Chief Executive Officer
416 644 4267

Brady Welch
Chief Financial Officer
416 644 4263

Profil de l'entreprise

Slate Retail REIT

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.