/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Dec. 5, 2012 /CNW/ - Slate U.S. Opportunity (No. 1) Realty
Trust (the "Trust") announced today that it has completed the
acquisition of a previously disclosed transaction.
Cambridge Crossings located in Troy, Michigan was purchased for
U.S.$26,900,000 (U.S.$113 PSF) at an approximate 8.0% going-in cap
rate. The asset is 95% occupied, anchored by Wal-Mart, Marshalls and
Including the above-mentioned transaction, the Trust has acquired
thirteen (13) assets and has substantially invested the proceeds
stemming from 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 49
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.