Slate U.S. Opportunity (No. 2) Realty Trust Provides Update on Recent Acquisition Activity

/NOT FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, May 31, 2013 /CNW/ - Slate U.S. Opportunity (No. 2) Realty Trust (the "Trust") announced today that it has completed previously disclosed transactions.

98 Palms in Destin was purchased for U.S.$11,000,000 (U.S.$130 PSF) at an approximate 8.9% going-in cap rate.  The 84,682 square foot property is 100% occupied, anchored by a Winn-Dixie grocery store. Uptown Station, in Fort Walton Beach, was purchased for U.S.$33,000,000 (U.S.$110 PSF) at an approximate 8.0% going-in cap rate.  The 300,124 square foot property is 90% occupied and is also anchored by a Winn-Dixie grocery store.

The above transactions represent the Trust's fourth & fifth acquisitions since completing its initial public offering in November 2012.  The Trust was established for the primary purpose of indirectly acquiring, owning and leasing a portfolio of diversified revenue-producing commercial real estate properties in the U.S. with a focus on anchored retail properties.  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 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$2.2 billion of commercial real estate assets across North America. The company currently co-invests and manages various investment vehicles, including Slate U.S. Opportunity (No. 1) Realty Trust, Slate U.S. Opportunity (No. 2) Realty Trust, and a closed-end private fund focused on U.S. retail assets, in addition to the company's co-investments and management of Canadian office properties with domestic institutional equity groups.

SOURCE: SLATE PROPERTIES INC.

For further information:

Blair Welch, Partner, Tel: (416) 644-4267 or Brady Welch, Partner, Tel: (416) 644-4263.

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SLATE PROPERTIES INC.

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