/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Sept. 3, 2013 /CNW/ - Slate U.S. Opportunity (No. 2) Realty Trust (the "Trust") announced today that it has completed a previously disclosed transaction.
Alta Mesa Plaza located in Fort Worth, Texas, was purchased at an approximate 8.7% going-in cap rate. The 167,961 square foot property is 99% occupied and is anchored by a Kroger grocery store.
The above transaction represents the Trust's ninth acquisition since completing its initial public offering in November 2012. The Trust was established for the primary purpose of indirectly acquiring, owning and leasing a portfolio of diversified revenue-producing commercial real estate properties in the U.S. with a focus on anchored retail properties. Slate Properties Inc. is the trust Manager.
About Slate: Slate Properties Inc. ("Slate") is a Toronto-based commercial real estate investor and asset manager. Slate's founding partners have nearly two decades of experience in the industry managing complex real estate transactions in domestic and international markets. Since 2005, the company has acquired over C$2.2 billion of commercial real estate assets across North America. The company currently co-invests and manages various investment vehicles, including Slate U.S. Opportunity (No. 1) Realty Trust, Slate U.S. Opportunity (No. 2) Realty Trust, and a closed-end private fund focused on U.S. retail assets, in addition to the company's co-investments and management of Canadian office properties with domestic institutional equity groups.
SOURCE: SLATE PROPERTIES INC.
For further information:
Blair Welch, Partner, Tel: (416) 644-4267 or Brady Welch, Partner, Tel: (416) 644-4263.