Slate Retail REIT Announces Acquisition of Shopping Centre in Illinois

TORONTO, Dec. 17, 2014 /CNW/ - Slate Retail REIT (the "REIT") (TSX: SRT.U / SRT.UN) today announced that it has entered into a binding agreement to purchase Glidden Crossing, a 96% occupied, 98,683 square foot grocery-anchored shopping centre located in DeKalb, Illinois for U.S.$16.6 million (U.S.$168 per square foot). The property is anchored by a Schnucks supermarket. The acquisition is expected to be completed in first quarter 2015 and remains subject to customary closing conditions.

The REIT has also successfully completed several previously announced acquisitions:

• Seminole Oaks, a 63,572 square foot grocery-anchored shopping centre in Seminole, Florida (Tampa MSA) was purchased for U.S.$11.35 million (U.S.$179 per square foot). The property is anchored by Winn-Dixie.
• Oakland Commons, a 73,705 square foot grocery-anchored shopping centre in Bloomington, Illinois was purchased for U.S.$8.12 million (U.S.$110 per square foot). The property is anchored by Jewel-Osco, a wholly-owned subsidiary of Albertsons LLC.
• Derry Meadows a 186,997 square foot grocery-anchored shopping centre in Derry, New Hampshire was purchased for U.S.$24.42 million (U.S.$131 per square foot). The property is anchored by Hannaford, a wholly-owned subsidiary of Delhaize America.
• Stadium Center, a 92,365 square foot grocery-anchored shopping centre in Port Huron, Michigan was purchased for U.S.$5.32 million (U.S.$58 per square foot). The property is anchored by Kroger.
• Westminster Plaza, a 97,013 square foot grocery-anchored shopping centre in Denver, Colorado was purchased for U.S.$12.67 million (U.S.$131 per square foot). The property is anchored by Safeway.

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 40 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, CEO, 416 644 4267; Brady Welch, CFO, 416 644 4263