TORONTO, Oct. 30, 2014 /CNW/ - Slate Retail REIT (the "REIT") (TSX: SRT.U / SRT.UN) today announced that it has entered into a binding agreement to purchase Westminster Plaza, a 98% occupied, 97,013 square foot grocery-anchored shopping centre located in Westminster, Colorado (Denver MSA) for U.S.$12.7 million (U.S.$131 per square foot). The property is anchored by Safeway. The acquisition is expected to be completed in fourth quarter 2014 and remains subject to customary closing conditions.
The REIT has also successfully completed the previously announced acquisition of a grocery-anchored shopping centre located in Louisville, Kentucky. Stonefield Square was acquired for U.S.$12.6 million (U.S.$138 per square foot). The 90,991 square foot property is anchored by The Fresh Market (NASDAQ: TFM).
About Slate Retail REIT
Slate Retail REIT is an open-ended real estate investment trust focused on U.S. grocery-anchored real estate. The REIT's portfolio includes over 35 properties located primarily across the top 50 U.S. metro markets. The REIT is focused on maximizing value through internal organic rental growth and strategic acquisitions. For more information, please visit www.slateretailreit.com.
SOURCE: Slate Retail REIT
For further information: Blair Welch, Chief Executive Officer, 416 644 4267; Brady Welch, Chief Financial Officer, 416 644 4263