Slate Retail REIT Announces Acquisition of Shopping Center in Port Huron, Michigan

TORONTO, Oct. 15, 2014 /CNW/ - Slate Retail REIT (the "REIT") (TSX: SRT.U/SRT.UN) today announced that it has entered into a binding agreement to purchase Stadium Center, a 92,365 square foot grocery-anchored shopping center located in Port Huron, Michigan for US$5.3 million (US$58 per square foot).  The property is 93% occupied and anchored by Kroger.  The acquisition is expected to be completed in the fourth quarter of 2014 and remains subject to customary closing conditions.

The REIT has also successfully completed the previously announced acquisition of a grocery-anchored shopping center located in Seminole, Florida.  Seminole Oaks was acquired for US$11.35 million (US$179 per square foot). The 63,572 square foot property is 97% occupied and anchored by Winn-Dixie.

About Slate Retail REIT
Slate Retail REIT is an open-ended real estate investment trust focused on U.S. grocery-anchored real estate. The REIT's portfolio includes over 30 properties 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. For more information, please visit www.slateretailreit.com.

SOURCE: Slate Retail REIT

Blair Welch
Chief Executive Officer
416 644 4267

Brady Welch
Chief Financial Officer
416 644 4263