An anonymous trustee reports

SLATE RETAIL REIT ANNOUNCES THE PURCHASE OF ARMSTRONG PLAZA IN SOUTH CAROLINA

Slate Retail REIT has entered into a binding agreement to acquire Armstrong Plaza, a 95-per-cent-occupied Bi-Lo-anchored centre, in the Greenville, S.C., metropolitan statistical area.

The property will be acquired for $5.25-million (U.S.) ($91 (U.S.) per square foot). Closing is expected to be completed in the fourth quarter of 2016 and remains subject to customary closing conditions.

About Slate Retail

Slate Retail is a real estate investment trust focused on U.S. grocery-anchored real estate. The REIT owns and operates over $1-billion (U.S.) of assets located primarily across the top-50 U.S. metro markets. The REIT is focused on maximizing value through internal organic rental growth and strategic acquisitions.