Slate Grocery REIT Closes Acquisition of Grocery-Anchored Property in Indiana and Secures New 15-Year Lease with Kroger

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TORONTO — Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an proprietor and operator of U.S. grocery-anchored actual property, introduced in the present day that it has closed the acquisition of Glenlake Plaza, a grocery-anchored property in Indianapolis, Indiana, for US$8.5 million (US$81 per sq. foot). Concurrent with the acquisition, the REIT has secured a brand new, long-term lease with the property’s anchor tenant, Kroger, for 15 years.

“We’re happy to amass one other high quality grocery-anchored property in a rising market with compelling demographics at a major low cost to alternative price,” mentioned David Dunn, Chief Government Officer of Slate Grocery REIT. “This acquisition was sourced from Kroger, a key grocer relationship for the REIT. We’re happy to see continued advantages from our relationship with Kroger and are enthusiastic about this chance to safe a 15-year lease with a high-quality credit score anchor.”

Acquisition Highlights

Kroger-anchored property comprising 104,679 sq. toes of gross leasable space.
Resilient tenancies with 78% of income derived from important tenants and 65% from Kroger, the primary grocer within the Indianapolis metropolitan statistical space.
Current occupancy of 85% offers upside by way of the lease-up of in-line vacancies.
Lengthy-term lease with Kroger for 15 years.

About Slate Grocery REIT (TSX: SGR.U / SGR.UN)
Slate Grocery REIT is an proprietor and operator of U.S. grocery-anchored actual property. The REIT owns and operates roughly U.S. $1.4 billion of vital actual property infrastructure throughout main U.S. metro markets that communities depend upon for his or her each day wants. The REIT’s resilient grocery-anchored portfolio and powerful credit score tenants present unitholders with sturdy money flows and the potential for capital appreciation over the long run. Go to slategroceryreit.com to study extra in regards to the REIT.

About Slate Asset Administration
Slate Asset Administration is a number one actual property targeted different funding platform with roughly $6.5 billion in property underneath administration. Slate is a value-oriented supervisor and a major sponsor of all of its non-public and publicly traded funding automobiles, that are tailor-made to the distinctive targets and goals of its traders. The agency’s cautious and selective funding strategy creates long-term worth with an emphasis on capital preservation and outsized returns. Slate is supported by distinctive folks, versatile capital and a demonstrated potential to originate and execute on a variety of compelling funding alternatives. Go to slateam.com to study extra.

Ahead-Trying Statements
Sure info herein constitutes “forward-looking info” as outlined underneath Canadian securities legal guidelines which replicate administration’s expectations concerning goals, plans, targets, methods, future development, outcomes of operations, efficiency, enterprise prospects and alternatives of the REIT. The phrases “plans”, “expects”, “doesn’t count on”, “scheduled”, “estimates”, “intends”, “anticipates”, “doesn’t anticipate”, “tasks”, “believes”, or variations of such phrases and phrases or statements to the impact that sure actions, occasions or outcomes “might”, “will”, “might”, “would”, “would possibly”, “happen”, “be achieved”, or “proceed” and related expressions determine forward-looking statements. Such forward-looking statements are certified of their entirety by the inherent dangers and uncertainties surrounding future expectations.

Ahead-looking statements are essentially based mostly on a variety of estimates and assumptions that, whereas thought-about affordable by administration as of the date hereof, are inherently topic to important enterprise, financial and aggressive uncertainties and contingencies. When counting on forward-looking statements to make choices, the REIT cautions readers to not place undue reliance on these statements, as forward-looking statements contain important dangers and uncertainties and shouldn’t be learn as ensures of future efficiency or outcomes, and won’t essentially be correct indications of whether or not or not the instances at or by which such efficiency or outcomes will probably be achieved. Numerous elements might trigger precise outcomes to vary, presumably materially, from the outcomes mentioned within the forward-looking statements. Extra details about dangers and uncertainties is contained within the filings of the REIT with securities regulators.

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