/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, April 7, 2014 /CNW/ - Slate U.S. Opportunity (No. 3) Realty Trust (the "Trust") announced today that it has entered into a binding agreement and subsequently completed the purchase of Salerno Village Square.
Salerno Village Square located in Stuart (Port St. Lucie MSA), Florida was purchased at an approximate 7.5% going-in cap rate. The 77,677 square foot property is 84% occupied and is anchored by a Winn-Dixie grocery store.
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$2.4 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, a closed-end private fund focused on U.S. retail assets and owns and manages a portfolio of Canadian office properties with domestic institutional equity.
SOURCE: Slate Properties Inc.
For further information: Blair Welch, Partner, Tel: (416) 644-4267 or Brady Welch, Partner, Tel: (416) 644-4263.