/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Nov. 27, 2013 /CNW/ - Slate U.S. Opportunity (No. 3) Realty
Trust (the "Trust") announced today the closing of a secured credit
facility in the amount of U.S. $120,000,000 (the "Facility") between
Slate U.S. Opportunity (No. 3) Holding LP (the "Holding LP"), a
subsidiary of the Trust, as borrower, and Merrill Lynch Pierce Fenner
and Smith Incorporated as Lead Arranger. The Facility matures
on November 27, 2017 with a one (1) twelve-month extension option and
bears interest at a rate of LIBOR plus 250 basis points. The Trust
intends to use the proceeds of the Facility together with the proceeds
from its initial public 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
and under the Facility amounts to approximately U.S. $195,000,000.
The Trust is an open-ended unincorporated investment trust governed by
the laws of the Province of Ontario. The Trust was established
on September 20, 2013 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 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, Slate U.S. Opportunity (No. 3) Realty Trust, and
a closed-end private fund focused on U.S. retail assets and 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.