/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Dec. 4, 2012 /CNW/ - Slate U.S. Opportunity (No. 2) Realty
Trust (the "Trust") announced today that it has entered into a binding
agreement to purchase Mitchellville Plaza, a 152,214 square foot
grocery anchored development in Mitchellville, MD (Greater Washington,
D.C.) for U.S.$28,350,000 (U.S.$186 PSF) at an approximate 9.0%
going-in cap rate. The asset is 89% occupied, anchored by a Food Lion
grocery store. The acquisition is expected to be completed in fourth
quarter 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 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. 1)
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.