/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, May 18, 2012 /CNW/ - Slate U.S. Opportunity (No. 1) Realty Trust (the "Trust") announced today that it has entered into a binding agreement to purchase Highland Square, a 179,243 square foot grocery-anchored retail centre in Crossville, Tennessee for U.S.$12,250,000 (U.S.$68 PSF) at approximately an 8.5% going-in cap rate. The asset is 94% occupied, anchored by Kroger, and also includes Tractor Supply Co., Dunham's Sporting Goods, and Goody's as junior anchors. The acquisition is expected to be completed in June 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 combined experience.
For further information:
Blair Welch, Partner, Tel: (416) 644-4267 or Brady Welch, Partner, Tel: (416) 644-4263.