/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, July 18, 2013 /CNW/ - Slate U.S. Opportunity (No. 2) Realty
Trust (the "Trust") announced today that it has entered into binding
agreements to acquire two grocery-anchored retail centers in Minnesota.
Phalen Retail Center in St. Paul will be acquired for U.S.$10,200,000
(U.S.$138 PSF) at an approximate 7.8% going-in cap rate. The 73,678
square foot property is 99% occupied and anchored by a Cub Foods
grocery store. East Brained Mall in East Brainerd will be acquired for
U.S.$19,100,000 (U.S.$100 PSF) at an approximate 8.4% going-in cap
rate. The 191,639 square foot property is 92% occupied and anchored by
a Cub Foods grocery store. Both transactions are expected to close in
third quarter 2013 and both remain 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 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.