/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, May 7, 2014 /CNW/ - Slate U.S. Opportunity (No. 3) Realty Trust
(the "Trust") announced today that it has entered into a binding
agreement to purchase Canton Shopping Center, a 72,414 square foot
grocery-anchored shopping center in Canton, MI (Detroit MSA) for
U.S.$10,750,000 (U.S. $148 PSF) at an approximate 8.3% going-in cap
rate. The property is anchored by an Aldi grocery store. The
acquisition is expected to be completed in second quarter 2014 and
remains subject to customary closing conditions. Slate Properties Inc.
("Slate") is the Trust manager.
About Slate Properties: 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
SOURCE: Slate Properties Inc.
For further information:
Blair Welch, Partner, Tel: (416) 644-4267 or Brady Welch, Partner, Tel: (416) 644-4263.