/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, May 14, 2014 /CNW/ - Slate U.S. Opportunity (No. 3) Realty Trust (the "Trust") today provided an update on its recent investment activity.
The Trust has deployed or conditionally committed the funds raised during its initial public offering in November 2013. The Trust has acquired, or committed to acquire 10 properties totalling approximately 1.2 million square feet. The Trust has also entered into agreements of purchase and sale, or agreed on all principal terms to acquire an additional 3 properties totalling approximately 379,000 square feet. The acquisition of the properties under contract are subject to due diligence and/or customary closing conditions.
About Slate Properties Inc.
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$2.4 billion of commercial real estate assets across North America. The company currently co-invests in and manages various investment vehicles, including the Trust and Slate Retail REIT (TSX: SRT.UN/SRT.U), an open-ended investment trust that is listed on the Toronto Stock Exchange. Slate also owns and manages a portfolio of Canadian office properties with domestic institutional equity.
Caution Regarding Forward Looking Statements
This News Release includes statements with respect to the Trust, including its business operations and strategy which may constitute forward-looking information, future oriented financial information, or financial outlooks (collectively, "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may relate to this News Release, the Trust's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "should", "believe" or "continue", or the negative thereof, or other similar expressions concerning matters that are not historical facts.
Although Slate believes that the expectations reflected in such forward-looking statements are reasonable and represent the Trust's internal projections, expectations and belief at this time, such statements involve known and unknown risks and uncertainties which may cause the Trust's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements.
SOURCE: Slate Properties Inc.
For further information: Blair Welch, Partner, Slate Properties Inc., (416) 644-4267; Brady Welch, Partner, Slate Properties Inc., (416) 644-4263