|By PR Newswire||
|April 3, 2014 04:31 PM EDT||
TORONTO, April 3, 2014 /CNW/ - Slate U.S. Opportunity (No. 2) Realty Trust (the "Trust") is pleased to announce that the unitholder approved combination transaction (the "Combination Transaction") is expected to close on April 14, 2014. Class U units of "Slate Retail REIT" are expected to commence trading on the Toronto Stock Exchange (the "TSX") on April 22, 2014. Listing will be subject to the final review and approval of the TSX.
ABOUT SLATE U.S. OPPORTUNITY (NO. 2) REALTY TRUST
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. The Trust indirectly owns a portfolio of 10 properties. Slate Properties Inc. ("Slate") is the manager of the Trust and is a Toronto-based commercial real estate investor and asset manager. Slate's founding partners have nearly two decades of experience in the industry managing complex real estate transactions in domestic and international markets. Since 2005, the company has acquired over C$2.3 billion of commercial real estate assets across North America. The company currently co-invests and manages various investment vehicles, including Slate U.S. Opportunity (No. 1) Realty Trust, Slate U.S. Opportunity (No. 2) Realty Trust, Slate U.S. Opportunity (No. 3) Realty Trust, a closed-end private fund focused on U.S. retail assets and owns and manages a portfolio of Canadian office properties with domestic institutional equity groups.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Trust to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include statements regarding the anticipated closing date of the Combination Transaction. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such forward-looking statements are based on a number of assumptions that may prove to be incorrect, including, but not limited to, the ability of the Trust to satisfy the conditions necessary to complete the Combination Transaction, including the requirements of the Toronto Stock Exchange. There can be no assurances that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. These cautionary statements qualify all forward-looking statements attributable to the Trust and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Trust undertakes no obligation to update such statements except as required by law.
SOURCE Slate U.S. Opportunity (No. 2) Realty Trust
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