Slate Retail REIT Announces Acquisition of Shopping Center in Port Huron, Michigan

About this update from Slate Grocery Reit Class U

[{"type":"text","content":"\n\n\nTORONTO, Oct. 15, 2014 /CNW/ - Slate Retail REIT (the \"REIT\") (TSX:\n SRT.U/SRT.UN) today announced that it has entered into a binding\n agreement to purchase Stadium Center, a 92,365 square foot\n grocery-anchored shopping center located in Port Huron, Michigan for\n US$5.3 million (US$58 per square foot).  The property is 93% occupied\n and anchored by Kroger.  The acquisition is expected to be completed in\n the fourth quarter of 2014 and remains subject to customary closing\n conditions.\n\n\nThe REIT has also successfully completed the previously announced\n acquisition of a grocery-anchored shopping center located in Seminole,\n Florida.  Seminole Oaks was acquired for US$11.35 million (US$179 per\n square foot). The 63,572 square foot property is 97% occupied and\n anchored by Winn-Dixie.\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\n over 30 properties located primarily across the top 50 U.S. metro\n markets. The REIT is focused on maximizing value through internal\n organic rental growth and strategic acquisitions. For more information,\n 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":2165,"tagName":"div"}]

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