Slate Office REIT Announces $16.74 Million Property Disposition in Etobicoke, ON
TORONTO, ON – Slate Office REIT (TSX: SOT.UN) (the "REIT") announced today that it has entered into a definitive agreement to sell 135 Queens Plate Drive in Etobicoke, ON for $16.74 million. The REIT expects to initially use the net proceeds to reduce outstanding debt, which may be redrawn to fund future acquisition activity.
The REIT expects this transaction to close in the third quarter of 2018.
About Slate Office REIT (TSX: SOT.UN)
Slate Office REIT is an open-ended real estate investment trust. The REIT's portfolio currently comprises 45 strategic and well-located real estate assets located primarily across Canada's major population centres including one downtown asset in Chicago, Illinois. The REIT is focused on maximizing value through internal organic rental and occupancy growth and strategic acquisitions. Visit slateofficereit.com to learn more.
About Slate Asset Management L.P.
Slate Asset Management L.P. is a leading real estate investment platform with over $5.5 billion in assets under management. Slate is a value-oriented manager and a significant sponsor of all of its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long-term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
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