Slate U.S. Opportunity (No. 1) Realty Trust Announces Closing of U.S.$100 Million Credit Facility

/NOT FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Sept. 14, 2012 /CNW/ - Slate U.S. Opportunity (No. 1) Realty Trust (the "Trust") announced today the closing of a secured credit facility in the amount of U.S.$100,000,000 (the "Facility") between Slate U.S. Opportunity (No. 1) Holding LP (the "Holding LP"), a subsidiary of the Trust, as borrower, KeyBank National Association, as agent, and KeyBanc Capital Markets and CIBC as joint lead arrangers.  The Facility matures on September 13, 2015 with two (2) one-year extension options and bears interest at a rate of LIBOR plus 300 basis points or Prime Rate plus 200 basis points.  The Trust intends to use the proceeds of the Facility together with the proceeds from its initial public offering to fund existing and future acquisitions of the Trust and for general Trust purposes.  The aggregate gross proceeds raised on the Trust's initial public offering and under the Facility are U.S.$157,030,000.

Since completing its IPO in April 2012, the Trust has acquired five (5) properties with an aggregate purchase price of U.S.$36,225,000 and has also entered into binding agreements to purchase an additional two (2) properties for an aggregate purchase price of U.S.$27,850,000 that are scheduled to close in the third quarter of 2012, subject to customary closing conditions.  Thus, the aggregate purchase price for both acquired and committed transactions of the Trust amounts to U.S.$64,075,000.

The Trust is an open-ended unincorporated investment trust governed by the laws of the Province of Ontario. The Trust was established on January 18, 2012 for the purpose of indirectly owning and leasing interests in a diversified portfolio of high quality, revenue-producing properties in the U.S. with a focus on anchored retail properties.

About Slate: Slate is a Toronto-based commercial real estate investor and asset manager. Slate's founding partners have significant experience managing complex real estate transactions in domestic and international markets. Since 2005, the company has acquired, owned and disposed of over C$975 million worth of commercial real estate. Slate's in-house team of asset management professionals have over 75 years of combined experience.

SOURCE: Slate U.S. Opportunity (No. 1) Realty Trust

Blair Welch, Partner, Tel: [phone] or Brady Welch, Partner, Tel: [phone].