/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Dec. 4, 2012 /CNW/ - Slate U.S. Opportunity (No. 1) Realty
Trust (the "Trust") announced today that it has completed two
previously disclosed transactions.
Westhaven Town Center located in Franklin, Tennessee (Greater Nashville)
was purchased for U.S.$14,500,000 (U.S.$149 PSF) at an approximate 8.2%
going-in cap rate. The asset is 96% occupied, anchored by a Harris
Teeter grocery store on a long-term lease.
Bowling Green Plaza and Madison Plaza are located in Bowling Green and
Madison, Virginia, respectively. The two properties were purchased for
a combined U.S.$7,940,000 (U.S.$80 PSF) at an approximate 8.8% going-in
cap rate. The assets are 90% occupied, both anchored by Food Lion and
Including the above-mentioned transactions, the Trust has acquired
twelve (12) assets since completing its initial public offering in
April 2012. The Trust was established for the primary purpose of
indirectly acquiring, owning and leasing a portfolio of diversified
revenue-producing commercial real estate properties in the U.S. with a
focus on anchored retail properties. Slate Properties Inc. ("Slate")
is the trust Manager.
About 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 48
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 the Trust, Slate U.S. Opportunity (No. 2)
Realty Trust, and a closed-end fund of U.S. retail assets.
SOURCE: SLATE PROPERTIES INC.
For further information:
Blair Welch, Partner, Tel: (416) 644-4267 or Brady Welch, Partner, Tel: (416) 644-4263.