Slate Grocery REIT (TSX:SGR.UN) entered into an agreement to acquire Portfolio of Five Grocery-Anchored Assets for $54.3 million.
January 10, 2021
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Slate Grocery REIT (TSX:SGR.UN) entered into an agreement to acquire Portfolio of Five Grocery-Anchored Assets for $54.3 million on January 11, 2021. Slate Grocery will pay $137 per square feet for 396,471 square feet property. The transaction deploys a significant portion of the capital raised from the REIT’s most recent equity offering. The acquisition is expected to be completed in the first quarter of 2021 and remains subject to customary closing conditions.
Slate Grocery REIT (the REIT) is a Canada-based open-ended mutual fund trust. The REIT focuses on acquiring, owning, and leasing a portfolio of grocery-anchored real estate properties (the properties) in the United States of America (the U.S.). Its objectives are to provide unitholders with stable cash distributions from a portfolio of grocery-anchored real estate properties in the United States. The REIT owns and operates real estate infrastructure across U.S. metro markets. The Company's properties include Centerplace of Greeley, River Run, Sheridan Square, Flamingo Falls, Northlake Commons, Countryside Shoppes, Creekwood Crossing, Skyview Plaza, Riverstone Plaza, Fayetteville Pavilion, Clayton Corners, Apple Blossom Corners, Hillard Rome Commons and Riverdale Shops, among others. The REIT's investment manager is Slate Asset Management (Canada) L.P.