/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
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
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.