Slate Retail REIT Announces Distribution for the Month of October 2015

TORONTO, Oct. 15, 2015 /CNW/ - Slate Retail REIT ("Slate Retail" or the "REIT") (TSX:SRT.UN/SRT.U) announced today that the Board of Trustees has declared a distribution for the month of October 2015 of US$0.063 per class U unit of the REIT ("Class U Units"), representing US$0.756 per Class U Unit on an annualized basis.

Holders of Class U Units may elect to receive their distribution in Canadian dollars and should contact their broker to make such an election. If a holder of Class U Units elects to receive distributions in Canadian dollars, the holder will receive the Canadian dollar equivalent amount of the distribution being paid on the Class U Units based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution.

Holders of class A units of the REIT ("Class A Units") will receive a distribution equal to the Canadian dollar equivalent (based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution) of US$0.063491 per Class A Unit. Holders of class I units of the REIT ("Class I Units") will receive a distribution equal to US$0.066490 per Class I Unit. Holders of units of subsidiaries of the REIT that are exchangeable into Class U Units ("Exchangeable Units") will receive a distribution equal to US$0.063 per unit

Distributions on all unit classes of the REIT, and distributions on Exchangeable Units, will be payable on November 16, 2015 to unitholders of record as of the close of business on October 30, 2015.

Distribution Reinvestment Plan
Holders of Class A Units, Class U Units and Class I Units of the REIT are eligible to participate in the Distribution Reinvestment Plan (the "DRIP"). In electing to participate in the DRIP, unitholders will have their cash distributions used to purchase Class U Units of the REIT and will also receive a "bonus distribution" of units equal in value to 3% of each distribution. Unitholders wishing to participate should contact their investment advisors to enroll. Additional details and information can be found by visiting slateam.com/SRT.

The REIT may initially issue up to 620,000 Class U Units of the REIT under the DRIP. The REIT may increase the number of Class U Units available to be issued under the DRIP at any time at its discretion subject to (a) the approval of the Board of Trustees, (b) the approval of any stock exchange upon which the trust units trade, and (c) public disclosure of such an increase.

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 64 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. Visit slateam.com/SRT to learn more. 

About Slate
Slate Asset Management L.P. is a leading real estate investment platform with $3 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. Visit slateam.com to learn more.

SOURCE Slate Retail REIT

Greg Stevenson, Chief Executive Officer, Slate Retail REIT, [phone], [email protected]; Conor McBroom, Vice President, Investor Relations, Slate Asset Management L.P., [phone], [email protected]