Home > Investors

Investors

Investors

Unit Information

Slate Office REIT is listed on the Toronto Stock Exchange under the symbol SOT.UN.

SOT-UN.TO

8.19 +0.00 ( +0.00% )

Previous Close8.19 Bid8.18 EPS N/A
Open8.18 PE Ratio11.94 Day Range8.16 - 8.22
Market Cap465.71M Ask8.22 Volume155,099
Color:
Background Color:

Presentations

Click here to view the latest investor presentation.

Click here to view the latest Annual General Meeting presentation. 

Color:
Background Color:

Financial Reports

Color:
#333333
Background Color:
#f2f2f2

Distributions

Period Record Date Payment Date DISTRIBUTION PER UNIT DRIP REINVESTMENT PRICE
Aug 2017 Aug 31, 2017 Sep 15, 2017 $0.06250 $7.90
Jul 2017 Jul 31, 2017 Aug 15, 2017 $0.06250 $7.94
Jun 2017 Jun 30, 2017 Jul 17, 2017 $0.06250 $7.81
May 2017 May 31, 2017 Jun 15, 2017 $0.06250 $8.05
Apr 2017 Apr 30, 2017 May 15, 2017 $0.06250 $8.16
Mar 2017 Mar 31, 2017 Apr 17, 2017 $0.06250 $8.15
Feb 2017 Feb 28, 2017 Mar 15, 2017 $0.06250 $8.06
Jan 2017 Jan 31, 2017 Feb 15, 2017 $0.06250 $8.08
Period Record Date Payment Date DISTRIBUTION PER UNIT DRIP REINVESTMENT PRICE
Dec 2016 Dec 31, 2016 Jan 16, 2017 $0.06250 $8.02
Nov 2016 Nov 30, 2016 Dec 15, 2016 $0.06250 $7.81
Oct 2016 Oct 31, 2016 Nov 15, 2016 $0.06250 $7.79
Sep 2016 Sep 30, 2016 Oct 17, 2016 $0.06250 $8.37
Aug 2016 Aug 31, 2016 Sep 15, 2016 $0.06250 $8.39
Jul 2016 Jul 30, 2016 Aug 15, 2016 $0.06250 $8.67
Jun 2016 Jun 30, 2016 Jul 15, 2017 $0.06250 $7.90
May 2016 May 31, 2016 Jun 15, 2017 $0.06250 $7.78
Apr 2016 Apr 30, 2016 May 16, 2016 $0.06250 $8.00
Mar 2016 Mar 31, 2016 Apr 15, 2016 $0.06250 $7.64
Feb 2016 Feb 29, 2016 Mar 28, 2016 $0.06250 $7.51
Jan 2016 Jan 31, 2016 Feb 16, 2016 $0.06250 $6.90
Period Record Date Payment Date DISTRIBUTION PER UNIT DRIP REINVESTMENT PRICE
Dec 2015 Dec 31, 2015 Jan 15, 2016 $0.06250 $6.90
Nov 2015 Nov 30, 2015 Dec 15, 2015 $0.06250 $7.11
Oct 2015 Oct 30, 2015 Nov 16, 2015 $0.06250 $7.25
Sep 2015 Sep 30, 2015 Oct 15, 2015 $0.06250 $7.20
Aug 2015 Aug 31, 2015 Sep 15, 2015 $0.06250 $7.08
Jul 2015 Jul 31, 2015 Aug 17, 2015 $0.06250 $7.05
Jun 2015 Jun 30, 2015 Jul 15, 2015 $0.06250 $7.07
May 2015 May 29, 2015 Jun 15, 2015 $0.06250 $7.15
Apr 2015 Apr 30, 2015 May 15, 2015 $0.06250 $7.95
Mar 2015 Mar 31, 2015 Apr 15, 2015 $0.06250 $8.05
Feb 2015 Feb 27, 2015 Mar 17, 2015 $0.06250 $7.78
Jan 2015 Jan 30, 2015 Feb 17, 2015 $0.06250 $8.69
Period Record Date Payment Date DISTRIBUTION PER UNIT DRIP REINVESTMENT PRICE
Dec 2014 Dec 31, 2014 Jan 15, 2015 $0.06250 $7.77
Nov 2014 Nov 28, 2014 Dec 15, 2014 $0.06250 $7.35
Oct 2014 Oct 31, 2014 Nov 17, 2014 $0.06250 $7.64
Sep 2014 Sep 30, 2014 Oct 15, 2014 $0.06250 $7.79
Aug 2014 Aug 29, 2014 Sep 15, 2014 $0.06250 $8.24
Jul 2014 Jul 31, 2014 Aug 15, 2014 $0.06250 $8.73
Jun 2014 Jun 30, 2014 Jul 15, 2014 $0.06250 $8.75
May 2014 May 30, 2014 Jun 16, 2014 $0.06250 $8.73
Apr 2014 Apr 30, 2014 May 15, 2014 $0.06250 $8.73
Mar 2014 Mar 31, 2014 Apr 15, 2014 $0.06250 $8.91
Feb 2014 Feb 28, 2014 Mar 17, 2014 $0.06250 $8.98
Jan 2014 Jan 31, 2014 Feb 17, 2014 $0.06250 $8.91
Period Record Date Payment Date DISTRIBUTION PER UNIT DRIP REINVESTMENT PRICE
Dec 2013 Dec 31, 2013 Jan 15, 2014 $0.06250 $8.73
Nov 2013 Nov 29, 2013 Dec 13, 2013 $0.06250 $8.44
Oct 2013 Oct 31, 2013 Nov 15, 2013 $0.06250 $8.59
Sep 2013 Sep 30, 2013 Oct 15, 2013 $0.06250 $8.57
Aug 2013 Aug 30, 2013 Sep 13, 2013 $0.06250 $8.53
Jul 2013 Jul 31, 2013 Aug 15, 2013 $0.06250 $8.46
Jun 2013 Jun 28, 2013 Jul 15, 2013 $0.06250 $9.42
May 2013 May 31, 2013 Jun 14, 2013 $0.06250 $9.71
Apr 2013 Apr 30, 2013 May 15, 2013 $0.06250 $9.92
Mar 2013 Mar 29, 2013 Apr 15, 2013 $0.06250 -
Feb 2013 Feb 28, 2013 Mar 15, 2013 $0.06250 -
Jan 2013 Jan 31, 2013 Feb 15, 2013 $0.07070 -
Color:
Background Color:

Distribution Reinvestment Plan

Slate Office REIT's Distribution Reinvestment Plan ("DRIP") allows unitholders of to have all distributions they receive from the REIT put towards the purchase of additional class trust units. A Participant may terminate participation in the DRIP at any time. Interested unitholders should contact their broker and consult the full text of the DRIP, available here:

Slate Office REIT Distribution Reinvestment Plan

Color:
#ffffff
Background Color:
#362d6d

Analyst Coverage

Please read our Disclaimer regarding analyst coverage

 

Color:
#333333
Background Color:
#f2f2f2

Tax Information

Slate Office REIT (the "REIT") is a Canadian mutual fund trust within the meaning of the Income Tax Act. Unitholders generally will be required to include in computing its income for a particular taxation year, as income from property, the portion of net income of the REIT, including net realized taxable capital gains, that is paid or payable to the unitholder in that taxation year, whether or not those amounts are received in cash, additional units or otherwise. Any losses of the REIT for purposes of the Income Tax Act cannot be allocated to, or treated as a loss of, a REIT unitholder.

Based on the current provisions of the Income Tax Act, and subject to the provisions of any particular plan, REIT units are a qualified investments for trusts governed an RRSP, RESP, RRIF, TFSA, deferred profit sharing plan and registered disability savings plan.

  2016 2015 2014 2013
Other Taxable Income  6.0%  18.4%  0.0% 0.0%
Capital Gains 3.8% 79.8%  0.0% 100%
Return of Capital 90.2% 1.8%  100% 0.0%
Color:
Background Color:

Governance

John O'Bryan
Chairman of the Board

Mr. O'Bryan is currently the Honourary Chairman of CBRE Limited and an independent trustee of CT Real Estate Investment Trust. Mr. O'Bryan's real estate career has spanned over 40 years. During his early career at A.E. Le Page, Mr. O'Bryan founded and headed Canada's largest appraisal network. From 1998 to 2008 he served as a Managing Director at TD Securities. In 2008 Mr. O'Bryan joined CBRE Limited, where he acted as both Vice Chairman and Chairman, until he stepped down in 2015. Mr. O'Bryan has served on the boards of a number of professional real estate organizations, including the RICS, ULI, REALpac and NAIOP, where he was President and a recent recipient of a Lifetime Achievement Award. Mr. O’Bryan was educated in the U.K., where he earned an honours degree in Estate Management.

Thomas Farley
Independent Trustee

Mr. Farley is Chairman of the Board of Brookfield Canada Office Properties and has over 30 years of real estate industry experience. Most recently, Mr. Farley held the position of President and Global Chief Operating Officer of Brookfield Office Properties, overseeing asset management, leasing, and property operating initiatives. Further, he served as Chairman of the Board of Brookfield Johnson Controls Canada and Brookfield Johnson Controls Australia. Previously at Brookfield he was Chief Executive Officer of Canadian Commercial Operations, Chief Executive Officer of Australian Commercial Operations and Senior Vice President, Western Canada. Mr. Farley received a Bachelor of Arts from the University of Victoria, a CRF designation from the Real Estate Institute of Canada and is a member of the American Management Association.

Nora Duke
Independent Trustee

Nora Duke is currently Executive Vice President, Corporate Services and Chief Human Resource Officer of Fortis Inc. Prior to this recent appointment, Ms. Duke served as the Chief Executive Officer of Fortis Properties Corporation from 2007 to 2015. Prior to Fortis Properties Corporation, Ms. Duke spent 16 years at another Fortis subsidiary, Newfoundland Power Inc., ultimately serving as the company’s Vice President of Customer and Corporate Services. She has been inducted into Atlantic Canada’s Top 50 CEOs Hall of Fame by Atlantic Business Magazine. She was also named one of Canada’s 100 Most Powerful Women in 2010 by the Women’s Executive Network. Ms. Duke holds a Bachelor of Commerce (honours) and a Masters of Business Administration from Memorial University.

Pam Spackman
Independent Trustee

Ms. Spackman, a corporate director, currently serves as a member of the Advisory Committee of Crestpoint Real Estate Investments Ltd. (a company with a portfolio of $2.5 billion in commercial properties, and a part of the Connor, Clark and Lunn group of companies). She also serves as a member of the Independent Investment Committee of Bentall Kennedy High Yield Canadian Property Fund (a fund investing in high yield mortgage debt and real estate equity in Canada). Ms. Spackman previously served as Chair of the Timbercreek Mortgage Advisory Committee from July 2008 until June 2016, and on the board of Gazit America Inc. from July 2009 until August 2012 (the date of its privatization). She also served as President and CEO of Column Canada Financial Corporation, a subsidiary of Credit Suisse Group AG from July 2000 to July 2008 and prior to that, Ms. Spackman was Vice-President, Mortgage Investments, at the Ministry of Finance, Province of British Columbia and an Investment Manager for the Workers’ Compensation Board Investment Fund in Ontario. She acquired the ICD.D designation in 2010 following completion of the Institute of Corporate Directors programme at the University of Toronto.

Al Mawani
Independent Trustee

Mr. Mawani is currently a Principal of Exponent Capital Partners Inc., a private equity investor and real estate advisory firm. Mr. Mawani has over 35 years of experience in the commercial real estate industry. During 2015 and 2016 he was the President and Chief Executive Officer of Rodenbury Investments Limited, a private commercial real estate owner-operator. Mr. Mawani has served as a Trustee of Boardwalk Real Estate Investment Trust (TSX: BEI.UN) for the past 15 years, 2002 to date. From 2011 to 2013, Mr. Mawani was the President and Chief Executive Officer of Calloway Real Estate Investment Trust (TSX: CWT.UN). In addition, Mr. Mawani spent 23 years at Oxford Properties Group including over 11 years as Chief Financial Officer between 1989 and 2000. Mr. Mawani is a Chartered Accountant, has a Master of Business Administration from University of Toronto and a Masters in Law from York University.

Blair Welch
Non-Independent Trustee

Mr. Welch was formerly the Chief Executive Officer of the REIT and has over 20 years of experience in the real estate industry in North America, Europe and Asia. Prior to co-founding Slate in 2004, Mr. Welch worked with First National Financial Corporation from 2002 until 2005 where he was responsible for developing a successful Canadian commercial mortgage-backed securities program. From 2001 to 2002, Mr. Welch was employed as a consultant by the General Motors Acceptance Corporation Commercial Mortgage to underwrite commercial assets for securitization. Mr. Welch also worked with General Motors Acceptance Corporation Commercial Mortgage to assist with their Canadian commercial mortgage-backed securities program. From 1997 to 2000, Mr. Welch was a Vice President and original member of New York-based Fortress Investment Group, spending time in Tokyo and Toronto, where he was responsible for originating office, retail, industrial and hospitality investment opportunities throughout both the U.S. and Canada. Mr. Welch began his career in the corporate finance group of Bankers Trust in New York and Toronto from 1996 to 1997, where he identified acquisition opportunities, oversaw due diligence, supervised property managers and leasing professionals, analyzed and approved capital expenditures and helped raise debt and equity capital for a variety of U.S. real estate clients. Mr. Welch also worked with Brazos Advisors (now Lonestar), participating in direct investment, securitization and corporate debt transactions in the U.S. and Canada. Mr. Welch holds a Bachelor of Commerce degree from the University of British Columbia.

Brady Welch
Non-Independent Trustee

Mr. Welch has over 20 years of experience in the real estate industry in North America, Asia and Europe across a variety of asset classes, including office, industrial, multi-family and retail and serves as Chief Financial Officer of the REIT. Prior to co-founding Slate in 2004, he held senior management positions with Fortress Investment Group from 1998 to 2005, including acting as a Vice-President and Managing Director, where he was responsible for overseeing all direct investments in commercial real estate in the U.S. In this capacity, Mr. Welch identified acquisition opportunities, underwrote asset values, oversaw due diligence, negotiated purchase and sale agreements, selected lenders and negotiated financing terms, supervised property managers and third party leasing professionals, approved large leasing contracts, approved capital expenditures, prepared annual operating budgets, provided updates on operating performance and developed and executed asset disposition strategies. During his eight year tenure at Fortress, Mr. Welch was involved in a significant number of real estate investments across retail, office, industrial, multi-family and hospitality asset classes. From 1997 until 1998, Mr. Welch managed the joint venture investments of Truscan (the former real estate arm of Canada Trust) including class A office towers in Canada’s five major urban markets. Mr. Welch began his career in the mid-1990s with Brazos Advisors (now Lonestar), participating in the acquisition and work-out of Canadian distressed real estate loan pools from insurance companies and financial institutions. Mr. Welch holds a Bachelor of Commerce degree from Mount Allison University.

 

Slate Office REIT - Board/Committee Composition - Effective May 24, 2017

Name

Independent

Audit

Investment

Compensation, Governance and Nominating

John O'Bryan (Chair)

Yes

 

Member

 

Al Mawani

Yes

Chair

 

Member

Pam Spackman

Yes

Member

 

Chair

Thomas Farley

Yes

 

Chair

Member

Nora Duke

Yes

Member

Member

 

Blair Welch

No

 

Member

 

Brady Welch

No

 

 

 

 

Click to view the Charter of the Board of Trustees ►

Color:
Background Color:

Committees

The Audit Committee is comprised of independent members of the Board of Trustees, appointed on an annual basis for the purpose of overseeing the REIT's financial controls and reporting in addition to monitoring whether the REIT complies with financial covenant and legal regulatory requirements governing financial disclosure matters and financial risk management. 

Members of the Audit Committee include Al Mawani (Chair), Nora Duke and Pam Spackman.

Charter of the Audit Committee

The Compensation, Governance and Nominating Committees is comprised of independent members of the Board of Trustees, appointed on an annual basis. The committee is charged with overseeing board effectiveness, trustee selection, considering questions of management succession, administering securities-based compensation plans and assessing the overall performance and compensation of management of the REIT, among other responsibilities. 

Members of the Compensation, Governance and Nominating Committee include Pam Spackman (Chair), Al Mawani and Thomas Farley.

Charter of the Compensation, Governance and Nominating Committee

The Investment Committee has the overall responsibility to ensure that the REIT's investment decisions are consistent with the Investment Guidelines and Operating policies as set forth in the REIT's Declaration of Trust. The committee will carry out its responsibilities with a view to achieving the REIT's strategic objectives of assembling a portfolio of high quality assets and delivering the benefits of such real estate to unitholders. 

Members of the Investment Committee include Thomas Farley (Chair), John O'Bryan, Nora Duke and Blair Welch.

Charter of the Investment Committee

Color:
Background Color:

Policies

It is the policy of Slate Office REIT that all activities be conducted with the highest standards of fairness, honesty and integrity and in compliance with all legal and regulatory requirements. In keeping with our commitment to best-in-class corporate governance, Slate has implemented numerous, policies and position descriptions.

Policies

Code of Business Conduct and Ethics
Slate Office REIT’s Code of Business Conduct and Ethics (the “Code”) has been endorsed by the board of trustees of the REIT and applies to trustees, directors and officers of the REIT and Slate Asset Management LP. The objective of the Code is to provide guidelines for maintaining the integrity, reputation, honesty, objectivity and impartiality of the REIT. The Code addresses conflicts of interest, protecting the REIT’s assets, confidentiality, fair dealing with security holders, competitors and employees, insider trading, compliance with laws, and the reporting of any illegal or unethical behaviour. 

Code of Business Conduct and Ethics

Whistleblower Policy
The REIT, its subsidiaries, and Slate Asset Management L.P. have a strong commitment to the conduct of their business in a lawful and ethical manner. In line with that commitment, the REIT has adopted a Whistleblower Policy. The Whistleblower Policy outlines the process by which trustees, directors, officers, managers and employees and others may communicate with the REIT about concerns they may have in respect of illegal or unethical behavior and when in doubt about the best course of action in a particular situation, without retaliation.

Any person with a good faith concern about any accounting or auditing matter or any other matter which such person believes in violation of the Code is directed to contact the Audit Committee of the REIT (who is independent of management of the REIT Entities) on a confidential basis at auditcommittee@slateofficereit.com.

Whistleblower Policy

See also:

Disclosure Policy
Insider Trading Policy
Majority Voting Policy

Position Descriptions

Chair of the Board of Trustees
Lead Independent Trustee
Chair of the Audit Committee
Chair of the Investment Committee
Chair of the Compensation, Governance and Nominating Committee
Chief Executive Officer

Color:
Background Color:

Further Information

If you have questions about Slate Office REIT, contact us directly.
For change of address and other inquiries related to unit registration, contact our transfer agent.

Slate Office REIT

c/o Slate Asset Management L.P.
121 King St W, Suite 200
Toronto, ON M5H 3T9 Canada

Phone: +1 416 644 4264
Email: ir@slateam.com

Transfer Agent

TMX Equity Transfer Services
200 University Ave, Suite 300
Toronto, ON M5H 4H1 Canada

Phone: +1 866 393 4891
Email: tmxeinvestorservices@tmx.com

 
Color:
#ffffff
Background Color:
#362d6d