• Sign up for the Daily Digest Email!
  • Twitter
  • Facebook
  • Google Plus One
  • RSS

REIT REPORT

REIT news, Real Estate Investment Trusts, Canadian REIT News, REIT Stocks Canada

  • Home
  • Headlines
  • Daily Digest Email
  • Canadian REITs

Slate Retail REIT Announces Acquisition of Shopping Centres in Georgia

June 22, 2015 By NewsWire Tagged With: TSX:SRT.U, TSX:SRT.UN

TORONTO, June 22, 2015  /CNW/ – Slate Retail REIT (the “REIT”) (TSX: SRT.U / SRT.UN) today announced that it has entered into a binding agreement to acquire two Publix-anchored shopping centres in Georgia. Both assets are in the Atlanta metropolitan area.

Shoppes at Birmingham in Milton is 79% occupied and will be acquired for U.S.$10.08 million (U.S.$122 per square foot) and Shoppes at Locust Grove in Locust Grove is 71% occupied and will be acquired for U.S.$9.43 million (U.S.$105 per square foot).

The REIT views both properties as unique opportunities in which management’s expertise in leasing and operations can be applied in order to generate significant value. The anchor tenant at both properties, Publix, is among the leading grocers in the state of Georgia by market share and has demonstrated strong sales performance at both of the above-mentioned locations.

The acquisition is expected to be completed in third quarter 2015 and remains subject to customary closing conditions.

Slate Asset Management L.P. (“Slate”) is the REIT’s manager.

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 58 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. Visit slateam.com/SRT to learn more.

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. Visit slateam.com to learn more.

SOURCE Slate Retail REIT

Sign up for the Daily Digest Email!

Receive the latest news stories from the REIT Report every morning for FREE!

100% Privacy. No SPAM. We promise.

Daily Movers

Ticker News Price Chg Chg%
d.un:ca$14.92.7118.16%
csh.un:ca$9.340.545.78%
ax.un:ca$6.920.223.13%
kmp.un:ca$17.730.623.5%
nwh.un:ca$8.020.222.69%
mrt.un:ca$5.24-0.01-0.19%
grt.un:ca$81.72-0.11-0.13%
hot.un:ca$2.53-0.01-0.39%
fcr.un:ca$15.35-0.05-0.32%
dir.un:ca$14.22-0.41-2.87%
 

Market Snapshot

  • Advertise
  • About
  • Contact
  • Privacy Policy

Copyright © 2025 · REIT REPORT