TORONTO, May 27, 2015 /CNW/ - Slate Office REIT (the "REIT") (TSX: SOT.UN) today announced that it has entered into a binding agreement to sell 110 Lowson Crescent in Winnipeg, Manitoba to an undisclosed purchaser for $6.7 million ($110 per square foot). The disposition is expected to be completed in second quarter 2015 and remains subject to customary closing conditions.
Slate Asset Management LP ("Slate") is the REIT's manager.
About Slate Office REIT
Slate Office REIT is an open-ended real estate investment trust listed on the Toronto Stock Exchange as "SOT.UN". The REIT's portfolio comprises strategic and well-located real estate assets located primarily across Canada's major population centres. The REIT will concentrate future growth on strategic acquisitions of high quality downtown and suburban office properties. The REIT is also focused on maximizing value through internal organic rental and occupancy growth. More information is available at www.slateofficereit.com.
About Slate Asset Management
Slate is a leading real estate investment platform with over $2.5 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. More information is available at www.slateam.com.
SOURCE Slate Office REIT
Scott Antoniak, Chief Executive Officer, +1 416 583 1764Copyright CNW Group 2015