SYS-CON MEDIA Authors: Yeshim Deniz, Elizabeth White, Sean Houghton, Glenn Rossman, Ignacio M. Llorente

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Slate Retail REIT Announces Closing of Combination Transaction

TORONTO, April 15, 2014 /CNW/ - Slate Retail REIT (the "REIT") announced today that it has completed the unitholder approved combination transaction (the "Combination Transaction"). Class U units (the "Class U Units") of the 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 RETAIL REIT

The REIT 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 REIT indirectly owns a portfolio of 29 properties. Slate Properties Inc. ("Slate") is the manager of the REIT 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$2.4 billion of commercial real estate assets across North America. The company currently co-invests and manages various investment vehicles, including the REIT, 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 REIT 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 listing date of the Class U Units. 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 REIT to satisfy the requirements of the TSX. 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 REIT 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 REIT undertakes no obligation to update such statements except as required by law.

SOURCE Slate Retail REIT

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