/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, June 14, 2012 /CNW/ - Slate U.S. Opportunity (No. 1) Realty
Trust (the "Trust") announced today that it has entered into a binding
agreement to purchase Errol Plaza, a 71,490 square foot
grocery-anchored retail centre in Apopka, Florida (Greater Orlando) for
U.S.$6,125,000 (U.S.$86 PSF) at approximately an 8.25% going-in cap
rate. The asset is 96% occupied, anchored by a recently renovated Winn
Dixie. The acquisition is expected to be completed in July 2012 and
remains subject to customary closing conditions. 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, owned and
disposed of over C$900 million worth of commercial real estate. Slate's
in-house team of asset management professionals have over 75 years of
SOURCE Slate Properties Inc.
For further information:
Blair Welch, Partner, Tel: (416) 644-4267 or Brady Welch, Partner, Tel: (416) 644-4263.