| By PR Newswire |
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| November 20, 2012 05:44 PM EST |
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/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Nov. 20, 2012 /CNW/ - Slate U.S. Opportunity (# 1) Realty
Trust (the "Trust") announced today that it has completed the
acquisition of a grocery-anchored retail asset in Fuquay-Varina, North
Carolina (Raleigh-Cary MSA).
Fuquay Crossing was purchased for U.S.$13,100,000 (U.S.$105 PSF) at an
approximate 8.7% going-in cap rate. The asset is 94% occupied,
anchored by a Kroger grocery store on a long-term lease.
To date, the Trust has acquired nine assets since completing its initial
public offering in April 2012. The Trust was established for the
primary purpose of indirectly acquiring, owning and leasing a portfolio
of diversified revenue-producing commercial real estate properties in
the U.S. with a focus on anchored retail properties. Slate Properties
Inc. ("Slate") is the trust Manager.
About Slate: Slate is a Toronto-based commercial real estate investor
and asset manager. Slate's founding partners have significant
experience managing complex real estate transactions in domestic and
international markets. Since 2005, the company has acquired 45
commercial real estate assets across North America with a total value
of approximately $1 billion. Slate's in-house team of asset management
professionals have over 80 years of combined experience.
SOURCE SLATE PROPERTIES INC.
