Slate Office REIT (TSX:SOT.UN) agreed to acquire seven office properties located in the Greater Toronto Area and Atlantic Canada from Slate Canadian Real Estate Opportunity Fund I L.P., a fund of Slate Properties Inc. for approximately CAD 190 million on January 17, 2018. The purchase price represents a price of CAD 192 per square foot and also includes assumed liabilities of CAD 82 million. As of January 26, 2018, Slate Acquisitions Inc., on behalf of Slate Canadian Real Estate Opportunity Fund I L.P. entered into an amending agreement to acquire a portfolio of real estate assets together with the equity interests in certain property-related subsidiaries from Cominar Real Estate Investment Trust and certain of its subsidiaries on December 8, 2017. The properties are part of a portfolio of real estate assets to be sold by Cominar Real Estate Investment Trust and which are the subject of a sale contract among Slate Acquisitions Inc. and Cominar Real Estate Investment Trust. In conjunction with the transaction, Slate Office REIT has entered into an agreement with a syndicate of underwriters co-led by BMO Capital Markets and National Bank Financial Inc. to issue CAD 103.5 million of subscription receipts, proceeds of which will used to fund a portion of the purchase price. The transaction will be conditional upon the satisfaction of certain conditions including completion of the sale of the subscription receipts and minority unitholder approval at a meeting of unitholders and include receipt of consent of the Mortgagees to the assumption of the existing mortgages, receipt of approval under the Competition Act (Canada) with respect to the sale of the cominar portfolio to the purchaser pursuant to the acquisition agreement in the form of an advance ruling certificate or a no action letter and receipt of estoppel certificates in respect of certain tenants. The Board of trustees of Slate Office REIT appointed a special committee of independent elected trustees for purposes of, among other things, considering the transaction and determining whether the transaction in the best interests of the Slate Office REIT. The special committee unanimously recommended to the Board that unitholders vote in favor of the transaction at the unitholder meeting. The unitholder meeting is expected to be held on March 8, 2018. The transaction is expected to close by the end of March 2018. The transaction is expected to be immediately accretive to Slate Office REIT 2018 adjusted funds from operations per unit on a leverage neutral basis. As of February 26, 2018, The Board of Trustees of the Slate Office unanimously approved the acquisition and recommends that unitholders vote for the acquisition at the special meeting of unitholders on March 8, 2018. As of March 8, 2018, Slate Office REIT's unitholders approve the transaction. Blair Franklin Capital acted as financial advisor to special committee in preparation of independent appraisals of each of the properties and received a fee of CAD 0.165 million in a manner such as CAD 70,000 upon execution of the engagement letter; CAD 70,000 upon delivery by Blair Franklin of its preliminary views on the value of the acquisition properties and CAD 25,000 upon delivery of the formal valuation and fairness opinion to the special committee. On January 26, 2018, Blair Franklin provided the opinion that the transaction is fair from a financial point of view. KPMG LLP and Chartered Professional Accountants acted as accountants for Slate Office REIT.