TORONTO, Sept. 3, 2015 /CNW/ - Slate Office REIT (the "REIT") (TSX: SOT.UN) today announced that it has completed the sale of 505 Industrial Drive in Milton, Ontario to an undisclosed purchaser for $22.5 million.
The Transaction is consistent with the REIT's stated growth strategy and focus on office assets.
Slate Management Corporation, a wholly-owned subsidiary of Slate Asset Management L.P. ("Slate"), is the REIT's manager.
About Slate Office REIT
Slate Office REIT is an open-ended real estate investment trust. The REIT's portfolio currently comprises 47 strategic and well-located real estate assets located primarily across Canada's major population centres. The REIT is focused on maximizing value through internal organic rental and occupancy growth and strategic acquisitions. Visit slateam.com/SOT to learn more.
About Slate
Slate Asset Management L.P. is a leading real estate investment platform with $3 billion in assets under management. Slate is a value-oriented company and a significant sponsor of all its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm'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 proven ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
SOURCE Slate Office REIT
Scott Antoniak, Chief Executive Officer, Slate Office REIT, +1 416 583 1764, scott@slateam.com; Conor McBroom, Vice President, Investor Relations, Slate Asset Management L.P., +1 416 619 4284, conor@slateam.com