/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Nov. 26, 2013 /CNW/ - Slate U.S. Opportunity (No. 3) Realty Trust (the "Trust") announced today that it has entered into a binding agreement to purchase North Augusta Plaza, a 254,718 square foot anchored shopping centre in North Augusta, SC for U.S.$19,000,000 (U.S. $75 PSF) at an approximate 8.8% going-in cap rate. The property is anchored by a Publix grocery store. The acquisition is expected to be completed in fourth quarter 2013 and remains subject to customary closing conditions. Slate Properties Inc. ("Slate") is the Trust manager.
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.