Slate U.S. Opportunity (No. 3) Realty Trust Announces First Quarterly Distribution
/NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, June 30, 2014 /CNW/ - Slate U.S. Opportunity (No. 3) Realty Trust (the "Trust") today announced its first quarterly cash distribution on the outstanding class A units, class F units, class U units and class I units of the Trust (collectively, the "Units") in the aggregate amount of U.S.$1,310,000. Pursuant to the amended and restated declaration of trust dated September 20, 2013 (the "Trust Declaration") the distribution per class of Units will be as follows:
| a) |
C$0.17969 per class A unit (converted from U.S.$0.16899 per class A unit in accordance with the Trust Declaration); |
| b) |
C$0.18538 per class F unit (converted from U.S.$0.17435 per class F unit in accordance with the Trust Declaration. Distribution was adjusted to reflect that the class F units were subject to a reduced Agents' Fee (as defined in the Trust Declaration)). |
| c) |
U.S.$0.17516 per class U unit; and |
| d) |
U.S.$0.18487 per class I unit (adjusted to reflect that the class I units were not subject to Agents' Fees, as defined in the Trust Declaration). |
The distribution will be paid on July 15, 2014 to unitholders of record as of June 30, 2014.
About Slate U.S. Opportunity (No. 3) Realty Trust and Slate Properties Inc.
The Trust was established for the primary purpose of indirectly acquiring, owning and leasing a portfolio of diversified revenue-producing commercial real estate properties in the U.S. with a focus on anchored retail properties. The Trust indirectly owns a portfolio of 12 properties. Slate Properties Inc. ("Slate") is the manager of the Trust and is a Toronto-based commercial real estate investor and asset manager. Slate's founding partners have nearly two decades of experience in the industry managing complex real estate transactions in domestic and international markets. Since 2005, the company has acquired over C$2.5 billion of commercial real estate assets across North America. The company currently co-invests in and manages various investment vehicles including the Trust and Slate Retail REIT (TSX: SRT.UN/SRT.U), an open-ended investment trust that is listed on the Toronto Stock Exchange. Slate also owns and manages a portfolio of Canadian office properties with domestic institutional equity.
SOURCE: Slate Properties Inc.
Blair Welch, Partner, Slate Properties Inc., 416 644 4267; Brady Welch, Partner, Slate Properties Inc., 416 644 4263
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