Slate U.S. Opportunity (No. 1) Realty Trust to Acquire Grocery-Anchored Retail Asset in Tennessee

/NOT FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, June 19, 2012 /CNW/ - Slate U.S. Opportunity (No. 1) Realty Trust (the "Trust") announced today that it has entered into a binding agreement to purchase St. Elmo Central, a 74,978 square foot grocery-anchored retail centre in Chattanooga, Tennessee for U.S.$6,050,000 (U.S.$81 PSF) at approximately an 9.6% going-in cap rate. The asset is 100% occupied, anchored by BI-LO, and also includes CVS Pharmacy and Family Dollar as junior anchors. The acquisition is expected to be completed in July 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$900 million worth of commercial real estate. Slate's in-house team of asset management professionals have over 75 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

Profil de l'entreprise

Slate Properties Inc.

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