Slate U.S. Opportunity (No. 3) Realty Trust Announces Voting Results from Special Meeting of Unitholders

TORONTO, May 13, 2015 /CNW/ - Slate U.S. Opportunity (No. 3) Realty Trust (the "Trust") is pleased to announce that at the special meeting of unitholders of the Trust (the "Meeting") held earlier today, unitholders unanimously approved a special resolution regarding the previously announced proposed transaction (the "Proposed Transaction") pursuant to which Slate Retail REIT (the "REIT") will acquire all of the assets of the Trust in consideration for class U units of the REIT. The special  resolution in regards to the Proposed Transaction was approved by (1) 100% of the votes cast in person or by proxy at the Meeting by holders of class A units, class F units, class I units and class U units of the Trust, with such unitholders voting together as a single class, and (2) 100% of the votes cast in person or by proxy at the Meeting by holders of class A units, class F units, class I units and class U units of the Trust (other than unitholders that were excluded from voting pursuant to Multilateral Instrument 61-101), with such unitholders voting together as a single class.

At a separate meeting held today, unitholders of the REIT approved all required matters related to the Proposed Transaction.

The Proposed Transaction is expected to close in the second quarter of 2015. In addition to the approval by the unitholders of the Trust and the REIT that was obtained today, the Proposed Transaction is conditional upon satisfaction of other customary closing conditions.

About Slate U.S. Opportunity (No. 3) Realty Trust

 Slate U.S. Opportunity (No. 3) Realty 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. The Trust indirectly owns a portfolio of 13 properties.

About Slate Retail REIT

Slate Retail REIT is an open-ended real estate investment trust focused on U.S. grocery-anchored real estate. The REIT's portfolio includes over 40 properties located primarily across the top 50 U.S. metro markets. The REIT is focused on maximizing value through internal organic rental growth and strategic acquisitions. For more information, please visit www.slateretailreit.com.

 About Slate Asset Management

 Slate Asset Management L.P. is a leading real estate investment platform with over $2.5 billion in assets under management. Slate is a value-oriented company and a significant sponsor of all its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. More information is available at www.slateam.com.

Forward-Looking Statements

This press release contains forward-looking statements with respect to the Trust and the Proposed Transaction. These statements generally can be identified by the use of forward-looking words such as "forecast", "may", "will", "would", "expect", "estimate", "anticipate", "intend", "believe" or "continue" or the negative thereof or similar variations. Some of the specific forward-looking statements in this press release include, but are not limited to, statements with respect to the closing of the Proposed Transaction. Readers should not place undue reliance on forward-looking statements. These cautionary statements qualify all forward-looking statements attributable to the Trust and persons acting on its behalf. See the risk factors in the public filings of the Trust. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, the failure to receive any required approvals or consents in connection with the Proposed Transaction including the exemptive relief, and changes in securities or other laws or regulations or the application thereof. The cautionary statements qualify all forward-looking statements attributable to the Trust and persons acting on its behalf. The assumptions made in making forward-looking statements are referred to in the public filings of the Trust. The assumptions made in making forward-looking statements in this press release also include the assumption that the Trust will be in a position to satisfy the conditions in respect of the Proposed Transaction and complete the transaction.

Unless otherwise stated, all forward-looking statements speak only as of the date of this press release. Except as required by applicable law, the Trust specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Additional information about these assumptions and risks and uncertainties is contained in the Trust's filings with securities regulators, including its latest financial statements and management information circular, copies of which may be obtained on the SEDAR website at www.sedar.com.

SOURCE Slate U.S. Opportunity (No. 3) Realty Trust

Blair Welch, Partner and Co-Founder, Slate Asset Management, 416 644 4267; Brady Welch, Partner and Co-Founder, Slate Asset Management, 416 644 4263