Slate Office REIT Completes Acquisition of Seven Asset Portfolio for $191.4 MillionMarch 27, 2018
Slate Office REIT completed its acquisition of seven properties located in the Greater Toronto Area and Atlantic Canada for an aggregate purchase price of approximately $191.4 million. The properties are part of a portfolio of real estate assets sold by Cominar Real Estate Investment Trust which were the subject of a sale contract among Slate Acquisitions Inc. (on behalf of Slate Canadian Real Estate Opportunity Fund I L.P. and Cominar. The purchase price was partially satisfied from the proceeds of the sale of 12,778,800 subscription receipts of the REIT for gross proceeds of approximately $103.5 million which closed on January 26, 2018.
Wildeboer Dellelce LLP acted for the special committee of the board of trustees of Slate Office REIT in connection with the transactions, with a team that included Troy Pocaluyko (corporate/securities) and Daniel Shapira (real estate).