/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, May 21, 2014 /CNW/ - Slate Retail REIT (TSX:SRT.UN/SRT.U) ("Slate Retail" or the "REIT") is pleased to announce that the REIT is scheduled to open trading on the Toronto Stock Exchange (the "TSX") this morning.
On April 22, 2014, Slate Retail debuted on the TSX as a public real estate investment trust and began trading of its Class U Units in both Canadian dollars (SRT.UN) and U.S. dollars (SRT.U). Slate Retail is the result of a transaction that combined assets of Slate U.S. Opportunity (No. 1) Realty Trust, Slate U.S. Opportunity (No. 2) Realty Trust and U.S. Grocery Anchored Retail (1A), (1B) and (1C) Limited Partnerships. The REIT is a pure-play in U.S. grocery-anchored real estate with an initial portfolio of 29 properties across 14 states comprised of well-recognized name brand tenants.
About Slate Retail REIT
Slate Retail REIT is an open-ended real estate investment trust and a pure-play in U.S. grocery-anchored real estate. The REIT's portfolio includes 29 properties across 14 states with name brand tenants that occupy approximately 70% of gross leasable area. The REIT's manager, Toronto-based Slate Properties Inc., has an experienced and dedicated team of real estate professionals with a proven track record of success in U.S. grocery-anchored real estate. The Slate team has established a significant presence in key target markets, predominantly within the top 50 U.S. metro areas, and has the resources in place to quickly capitalize on opportunities for accretive growth.
SOURCE: Slate Retail REIT
For further information: Blair Welch, Chief Executive Officer, Tel: (416) 644-4267 or Brady Welch, Chief Financial Officer, Tel: (416) 644-4263