/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Feb. 26, 2014 /CNW/ - Slate U.S. Opportunity (No. 3) Realty
Trust (the "Trust") announced today that it has entered into a binding
agreement to purchase Southgate Crossing, a 159,780 square foot
grocery-anchored shopping center in Minot, North Dakota for
U.S.$29,215,000 (U.S. $183 PSF) at an approximate 8.1% going-in cap
rate. The property is anchored by Cash Wise. The acquisition is
expected to be completed in first quarter 2014 and remains subject to
customary closing conditions. Slate Properties Inc. ("Slate") is the
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$2.3 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, a closed-end private fund focused on
U.S. retail assets and owns and manages a portfolio of Canadian office
properties with domestic institutional equity.
SOURCE: Slate Properties Inc.
For further information:
Blair Welch, Partner, Tel: (416) 644-4267 or Brady Welch, Partner, Tel: (416) 644-4263.