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Slate Grocery REIT T.SGR.UN

Alternate Symbol(s):  SRRTF

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Slate Grocery REIT (the REIT) is a Canada-based open-ended mutual fund trust. The REIT focuses on acquiring, owning, and leasing a portfolio of grocery-anchored real estate properties (the properties) in the United States of America (the U.S.). Its objectives are to provide unitholders with stable cash distributions from a portfolio of grocery-anchored real estate properties in the United States. The REIT owns and operates real estate infrastructure across U.S. metro markets. The Company's properties include Centerplace of Greeley, River Run, Sheridan Square, Flamingo Falls, Northlake Commons, Countryside Shoppes, Creekwood Crossing, Skyview Plaza, Riverstone Plaza, Fayetteville Pavilion, Clayton Corners, Apple Blossom Corners, Hillard Rome Commons and Riverdale Shops, among others. The REIT's investment manager is Slate Asset Management (Canada) L.P.


TSX:SGR.UN - Post by User

Slate Grocery REIT > Interesting twist to new deal
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Comment by logicandinertiaon Jun 22, 2022 3:17pm
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Post# 34774927

RE:RE:Interesting twist to new deal

RE:RE:Interesting twist to new deal

Yeah,  you really have to give it to this crew.  At a time when nobody is doing deals, Slate management structures a deal to vend in these new properties using one of its private equity funds and pays a 22 percent premium to current market price.  Institutions invested in this PE fund seemingly ok with this transaction.  

Necessity is the mother of invention .  The Slate team was able to find the lowest cost funding to do this deal, which one has to applaud.  The ridiculous ATM program, introduced a few short months ago at the front end of a bear market, was only going to weigh on the unit share price and emblematic of somebody listening to fee chasing bankers' advice.  Pls demote the executive who forwarded this idea. 

Still don't think they ever realized expected synergies from last big deal before moving onto this one, but they keep barreling forward.  Fortune favours the brave...

good luck. 
 

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