Slate U.S. Opportunity (No. 3) Realty Trust Announces Closing of U.S. $120 Million Credit Facility

/NOT FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Nov. 27, 2013 /CNW/ - Slate U.S. Opportunity (No. 3) Realty Trust (the "Trust") announced today the closing of a secured credit facility in the amount of U.S. $120,000,000 (the "Facility") between Slate U.S. Opportunity (No. 3) Holding LP (the "Holding LP"), a subsidiary of the Trust, as borrower, and Merrill Lynch Pierce Fenner and Smith Incorporated as Lead Arranger.  The Facility matures on November 27, 2017 with a one (1) twelve-month extension option and bears interest at a rate of LIBOR plus 250 basis points.  The Trust intends to use the proceeds of the Facility together with the proceeds from its initial public offering to fund existing and future acquisitions of the Trust and for general Trust purposes.  The aggregate gross proceeds raised on the Trust's initial public offering and under the Facility amounts to approximately U.S. $195,000,000.

The Trust is an open-ended unincorporated investment trust governed by the laws of the Province of Ontario.  The Trust was established on September 20, 2013 for the purpose of indirectly owning and leasing interests in a diversified portfolio of high quality, revenue-producing properties in the U.S. with a focus on anchored retail properties.

About Slate: 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$2.2 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, Slate U.S. Opportunity (No. 3) Realty Trust, and a closed-end private fund focused on U.S. retail assets and 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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