Business
Slate Retail REIT Announces Acquisition of Shopping Center in Cary, North Carolina
TORONTO , Aug. 11, 2014 /CNW/ - Slate Retail REIT ("Slate Retail" the "REIT") (TSX: SRT....
About this update from Slate Grocery Reit Class U
[{"type":"text","content":"\n\n\nTORONTO, Aug. 11, 2014 /CNW/ - Slate Retail REIT (\"Slate Retail\" the\n \"REIT\") (TSX: SRT.U / SRT.UN) today announced that it has entered into\n a binding agreement to purchase Wellington Park, a 91% occupied,\n 102,487 square foot grocery-anchored shopping center in Cary, North\n Carolina (Raleigh-Cary MSA) for U.S.$15.5 million (U.S.$151 per square\n foot).\n\n\nContinuing with its growth momentum, this will be the fourth acquisition\n by the REIT funded with existing available capital resources. The\n property is anchored by Lowes Foods which operates over 100\n full-service supermarkets in North Carolina, South Carolina and\n Virginia.\n\n\nThe acquisition is expected to be completed in the third quarter 2014\n and remains subject to customary closing conditions.\n\n\nAbout Slate Retail REIT\nSlate Retail REIT is an open-ended real estate investment trust focused\n on U.S. grocery-anchored real estate. The REIT's portfolio includes 30\n properties located primarily across the top 50 U.S. metro markets. The\n REIT is focused on maximizing value through internal organic rental\n growth and strategic acquisitions. For more information, please visit www.slateretailreit.com.\n\n\nSOURCE Slate Retail REIT\n\n\n\n Blair Welch Chief Executive Officer 416 644 4267 Brady Welch Chief Financial Officer 416 644 4263 Copyright CNW Group 2014","length":2118,"tagName":"div"}]