TORONTO–(BUSINESS WIRE)–Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, announced today that Blair Welch, Founding Partner of Slate Asset Management, the external manager of Slate Grocery REIT, has been appointed as interim Chief Executive Officer (“CEO”) of Slate Grocery REIT. He will replace David Dunn, who is stepping down as CEO of the REIT. Welch will serve as CEO until a permanent successor is identified and will remain a Trustee of the Board during this time.
Welch is the co-founder of Slate Asset Management and has over 25 years of real estate industry experience. He previously served as CEO of the REIT from its inception through 2014 and has also been a Trustee of the Board of the REIT since its inception. Welch will work closely with Dunn and other members of the REIT’s senior management team over the coming weeks to ensure a seamless transition of leadership.
“Blair’s breadth of real estate experience and deep understanding of our business will be an enormous asset during this transition,” said Andrea Stephen, Chair of the Board of Trustees. “He has been closely involved in every aspect of the REIT’s operations since its inception and we are very confident that his leadership, together with the support of our seasoned management team, will enable us to continue building on our strong track record of growth and performance and delivering value for our unitholders. On behalf of the entire Board, I’d like to thank David for his contributions and wish him well in his future endeavors.”
“Slate Grocery REIT has grown significantly over the last year, and we are well positioned to capitalize on an attractive market and continue that trajectory through high-quality, accretive acquisitions,” said Blair Welch, interim CEO. “I look forward to working closely with the REIT’s best-in-class team to maintain our operational excellence, continue executing on our strategic growth plan and delivering long-term, sustainable income for our unitholders while we evaluate and identify the best long-term leader.”
About Slate Grocery REIT (TSX: SGR.U / SGR.UN)
Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately U.S. $1.9 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their daily needs. The REIT’s resilient grocery-anchored portfolio and strong credit tenants provide unitholders with durable cash flows and the potential for capital appreciation over the longer term. Visit slategroceryreit.com to learn more about the REIT.
About Slate Asset Management
Slate Asset Management is a global alternative investment platform focused on real estate. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
Certain information herein constitutes “forward-looking information” as defined under Canadian securities laws which reflect management’s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words “plans”, “expects”, “does not expect”, “scheduled”, “estimates”, “intends”, “anticipates”, “does not anticipate”, “projects”, “believes”, or variations of such words and phrases or statements to the effect that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “occur”, “be achieved”, or “continue” and similar expressions identify forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.
Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of the REIT with securities regulators.
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