News Column

Slate Retail REIT Announces Distribution for the Period from April 15, 2014 to May 31, 2014

April 29, 2014



TORONTO, April 29, 2014 /CNW/ - Slate Retail REIT (TSX:SRT.U / SRT.UN) ("Slate Retail" the "REIT") announced today that the board of trustees (the "Board of Trustees") has declared the REIT's first cash distribution in an amount of US$0.09 per class U unit of the REIT ("Class U Units") for the period from April 15, 2014 to May 31, 2014. The distribution will be payable on June 16, 2014 to holders of record as of the close of business on May 30, 2014.  The first distribution includes a prorated amount of US$0.03 per Class U Unit for the period April 15, 2014 (the date of closing of the combination transaction) to April 30, 2014.  The REIT intends to make subsequent monthly distributions in the amount of US$0.06 per Class U Unit for an annual distribution of US$0.72 per Class U Unit.

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$0.090702 per Class A Unit and holders of class I units of the REIT ("Class I Units") will receive a distribution equal to US$0.094986 per Class I Unit.  Distributions on the Class A Units and Class I Units will be payable on June 16, 2014 to unitholders of record as of the close of business on May 30, 2014.

ABOUT SLATE RETAIL REIT

Slate Retail REIT is an open-ended real estate investment trust and a pure-play in U.S. grocery-anchored real estate. The REIT's portfolio includes 29 properties across 14 states with name brand tenants that occupy approximately 70% of gross leasable area. The REIT's manager, Toronto-based Slate Properties Inc., has an experienced and dedicated team of real estate professionals with a proven track record of success in U.S. grocery-anchored real estate. The Slate team has established a significant presence in key target markets, predominantly within the top 50 U.S. metro areas, and has the resources in place to quickly capitalize on opportunities for accretive growth.

SOURCE Slate Retail REIT


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Canada Newswire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters