{"id":411951,"date":"2021-01-11T08:03:54","date_gmt":"2021-01-11T13:03:54","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=411951"},"modified":"2021-01-11T08:03:54","modified_gmt":"2021-01-11T13:03:54","slug":"slate-grocery-reit-announces-us54-3-million-acquisition-of-5-grocery-anchored-properties-in-the-southeastern-united-states","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/slate-grocery-reit-announces-us54-3-million-acquisition-of-5-grocery-anchored-properties-in-the-southeastern-united-states\/","title":{"rendered":"Slate Grocery REIT Announces US$54.3 Million Acquisition of 5 Grocery-Anchored Properties in the Southeastern United States"},"content":{"rendered":"<p>        <!--.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwlistdisc { list-style-type: disc }\n.bwpadl0 { padding-left: 0px }\n.bwpadr0 { padding-right: 0px }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignb { vertical-align: bottom }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p>\nSlate Grocery REIT Announces US$54.3 Million Acquisition of 5 Grocery-Anchored Properties in the Southeastern United States\n<\/p>\n<p>TORONTO&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nSlate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the \u201cREIT\u201d), an owner and operator of U.S. grocery-anchored real estate, announced today that it has entered into an agreement to acquire a portfolio of five grocery-anchored assets for US$54.3 million (US$137 per square foot).\n<\/p>\n<p>\n\u201cWe are excited to begin the new year with this opportunistic, off-market acquisition that promptly deploys capital from our most recent equity offering and further improves our ownership of essential grocery assets, a key component in last mile logistics,\u201d said David Dunn, Chief Executive Officer of Slate Grocery REIT. \u201cThese properties are located in the REIT\u2019s existing markets and increase our concentration of grocery and essential tenants, which has been critical in our strong performance throughout the pandemic.\u201d\n<\/p>\n<p><b>Acquisition Highlights<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nFive properties comprising 396,471 square feet of gross leasable area.\n<\/li>\n<li>\nExisting occupancy of 95% with a grocer weighted average lease term of 5.6 years.\n<\/li>\n<li>\nAccretive to funds from operations per unit and adjusted funds from operations per unit.\n<\/li>\n<li>\nResilient tenancies with 66% of revenue derived from essential tenants and 44% from grocers.\n<\/li>\n<li>\nAnchored by market leading, credit grocers including Kroger, Harris Teeter (Kroger), Food Lion (Ahold Delhaize) and Winn-Dixie.\n<\/li>\n<li>\nMarkets offer attractive demographics, including strong population growth and household incomes as well as large and well-educated work forces.\n<\/li>\n<li>\nThe transaction deploys a significant portion of the capital raised from the REIT\u2019s most recent equity offering, completed on December 10, 2020.\n<\/li>\n<\/ul>\n<p>\nThe acquisition is expected to be completed in the first quarter of 2021 and remains subject to customary closing conditions.\n<\/p>\n<p>\nThe following is a summary of the acquisition properties:\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Property<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Metropolitan Statistical Area<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Anchor<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Square Feet<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBells Fork\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\nGreenville, NC\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\nHarris Teeter (Kroger)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n71,666\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nMission Hills\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\nNaples, FL\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\nWinn-Dixie\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n85,078\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nParkway Station\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\nAtlanta, GA\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\nKroger\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n94,317\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTanglewood Commons\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\nWinston-Salem, NC\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\nHarris Teeter (Kroger)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n78,520\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWestin Center\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\nFayetteville, NC\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\nFood Lion (Ahold Delhaize)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n66,890\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>396,471 <\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b>About Slate Grocery REIT (TSX: SGR.U \/ SGR.UN)<\/b><\/p>\n<p>\nSlate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately U.S. $1.3 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their daily needs. The REIT\u2019s resilient grocery-anchored portfolio and strong credit tenants provide unitholders with durable cash flows and the potential for capital appreciation over the longer term. Visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fslategroceryreit.com&amp;esheet=52359313&amp;newsitemid=20210111005311&amp;lan=en-US&amp;anchor=slategroceryreit.com&amp;index=1&amp;md5=17d017ff4d27a5ac9a3d0d4445a4306f\">slategroceryreit.com<\/a> to learn more about the REIT.\n<\/p>\n<p><b>About Slate Asset Management<\/b><\/p>\n<p>\nSlate Asset Management is a leading real estate focused alternative investment platform with approximately $6.5 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&#8217;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 demonstrated ability to originate and execute on a wide range of compelling investment opportunities. Visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.slateam.com&amp;esheet=52359313&amp;newsitemid=20210111005311&amp;lan=en-US&amp;anchor=slateam.com&amp;index=2&amp;md5=ad2acb94c13fd440c5df79e64fad8c1a\">slateam.com<\/a> to learn more.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nCertain information herein constitutes \u201cforward-looking information\u201d as defined under Canadian securities laws which reflect management\u2019s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words \u201cplans\u201d, \u201cexpects\u201d, \u201cdoes not expect\u201d, \u201cscheduled\u201d, \u201cestimates\u201d, \u201cintends\u201d, \u201canticipates\u201d, \u201cdoes not anticipate\u201d, \u201cprojects\u201d, \u201cbelieves\u201d, or variations of such words and phrases or statements to the effect that certain actions, events or results \u201cmay\u201d, \u201cwill\u201d, \u201ccould\u201d, \u201cwould\u201d, \u201cmight\u201d, \u201coccur\u201d, \u201cbe achieved\u201d, or \u201ccontinue\u201d and similar expressions identify forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.\n<\/p>\n<p>\nForward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of the REIT with securities regulators.\n<\/p>\n<p><i>SGR-AD<\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210111005311r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210111005311\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210111005311\/en\/<\/a><\/span><\/p>\n<p>\nInvestor Relations<br \/>\n<br \/>+1 416 644 4264<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:ir@slateam.com\">ir@slateam.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> North America Canada<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Construction &amp; Property Commercial Building &amp; Real Estate Construction &amp; Property REIT<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210111005311\/en\/814375\/3\/L_Slate_Grocery_REIT_PNG_E.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Slate Grocery REIT Announces US$54.3 Million Acquisition of 5 Grocery-Anchored Properties in the Southeastern United States TORONTO&#8211;(BUSINESS WIRE)&#8211; Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the \u201cREIT\u201d), an owner and operator of U.S. grocery-anchored real estate, announced today that it has entered into an agreement to acquire a portfolio of five grocery-anchored assets for US$54.3 million (US$137 per square foot). \u201cWe are excited to begin the new year with this opportunistic, off-market acquisition that promptly deploys capital from our most recent equity offering and further improves our ownership of essential grocery assets, a key component in last mile logistics,\u201d said David Dunn, Chief Executive Officer of Slate Grocery REIT. \u201cThese properties are located in the REIT\u2019s existing markets and increase &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/slate-grocery-reit-announces-us54-3-million-acquisition-of-5-grocery-anchored-properties-in-the-southeastern-united-states\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Slate Grocery REIT Announces US$54.3 Million Acquisition of 5 Grocery-Anchored Properties in the Southeastern United States&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-411951","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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