/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Nov. 27, 2012 /CNW/ - Slate U.S. Opportunity (No. 2) Realty
Trust (the "Trust") announced today that it has issued 2,060,000 class
I units (the "Class I Units") on a private placement basis to certain
individual and institutional investors at a purchase price of
U.S.$10.00 per Class I Unit (the "Private Placement"). The total gross
proceeds of the Private Placement are approximately U.S.$20,600,000.
The Private Placement is in addition to the Trust's initial public
offering (the "IPO") of approximately U.S.$50 million and a private
placement of U.S.$1 million which were completed on November 19, 2012.
The investment objectives of the Trust are to: (a) indirectly acquire,
own and lease a portfolio of diversified revenue-producing commercial
real estate properties in the U.S. with a focus on anchored retail
properties; (b) make quarterly distributions commencing upon the
earlier of (i) the end of the fiscal quarter in which the Investable
Funds (as defined in the prospectus prepared in connection with the
IPO) are substantially invested and (ii) September 30, 2013; and (c)
enhance the potential for long-term growth of capital through
value-added enhancements to the properties owned indirectly by the
Trust and organic growth in rental rates, combined with an overall
reduction in capitalization rates. The Trust is managed by Slate
Properties Inc. ("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 44 commercial real estate assets
across North America with a total value of approximately C$1 billion.
Slate's in-house team of asset management professionals have over 80
years of combined experience. The company manages and co-invests in
Slate U.S. Opportunity (No. 1) Realty Trust as well as a closed-end
fund of U.S. retail assets.
This news release, does not constitute an offer of securities, and is
not for distribution or dissemination outside Canada. This offering is
only made by prospectus, only to Canadian residents, and only as
permitted by law. This news release contains forward-looking
information, and actual future results may differ from the
Corporation's objectives. The risks, uncertainties and other factors
that could influence actual results are described in the prospectus,
which contains important detailed information about the securities
being offered, and which investors should read before making an
SOURCE: SLATE PROPERTIES INC.
For further information:
Blair Welch (416) 644-4267 or Brady Welch (416) 644-4263