/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Dec. 4, 2012 /CNW/ - Slate U.S. Opportunity (No. 2) Realty Trust (the "Trust") announced today that it has entered into a binding agreement to purchase Mitchellville Plaza, a 152,214 square foot grocery anchored development in Mitchellville, MD (Greater Washington, D.C.) for U.S.$28,350,000 (U.S.$186 PSF) at an approximate 9.0% going-in cap rate. The asset is 89% occupied, anchored by a Food Lion grocery store. The acquisition is expected to be completed in fourth quarter 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 48 commercial real estate assets across North America with a total value of approximately 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.
For further information:
Blair Welch, Partner, Tel: (416) 644-4267 or Brady Welch, Partner, Tel: (416) 644-4263.