Slate Retail REIT Announces Acquisition of Shopping Center in Virginia

TORONTO, Sept. 22, 2014 /CNW/ - Slate Retail REIT (the "REIT") (TSX: SRT.U / SRT.UN) today announced that it has entered into a binding agreement to purchase Smithfield Shopping Plaza, a 134,644 square foot grocery-anchored shopping center located in Smithfield, Virginia for U.S.$13.95 million (U.S.$103 per square foot).  The property is anchored by Farm Fresh, a subsidiary of SuperValu, Inc.  The acquisition is expected to be completed in fourth quarter 2014 and remains subject to customary closing conditions.

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