Slate U.S. Opportunity (No. 2) Realty Trust Announces Closing of U.S.$110 Million Credit Facility

/NOT FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, April 2, 2013 /CNW/ - Slate U.S. Opportunity (No. 2) Realty Trust (the "Trust") announced today the closing of a secured credit facility in the amount of U.S.$110,000,000 (the "Facility") between Slate U.S. Opportunity (No. 2) Holding LP (the "Holding LP"), a subsidiary of the Trust, as borrower, KeyBank National Association, as agent, and KeyBanc Capital Markets, CIBC Inc. and Merrill Lynch Pierce Fenner and Smith Incorporated as Joint Lead Arrangers and Book Runners.  The Facility matures on April 2, 2017 with a one (1) twelve-month extension option and bears interest at a rate of LIBOR plus 265 basis points.  The Trust intends to use the proceeds of the Facility together with the proceeds from its initial public offering and secondary offering to fund existing and future acquisitions of the Trust and for general Trust purposes.  The aggregate gross proceeds raised on the Trust's initial public offering, secondary offering and under the Facility amounts to U.S.$182,100,000.

Since completing its IPO in November 2012, the Trust has acquired two (2) properties with an aggregate purchase price of U.S.$40,350,000.

The Trust is an open-ended unincorporated investment trust governed by the laws of the Province of Ontario.  The Trust was established on September 18, 2012 for the purpose of indirectly owning and leasing interests in a diversified portfolio of high quality, revenue-producing properties in the U.S. with a focus on anchored retail properties.

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 over 50 commercial real estate assets across North America with a total value of over 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.

Blair Welch, Partner, Tel: [phone] or Brady Welch, Partner, Tel: [phone].