Slate Canadian Real Estate Opportunity Fund I closes C$1.14B portfolio acquisition from Cominar REIT
March 27, 2018
1.14 Billion CAD
On March 27, 2018, The Slate Canadian Real Estate Opportunity Fund I (the “Fund”) announced the closing of the acquisition of a portfolio of real estate assets (the “Portfolio”) from Cominar Real Estate Investment Trust for C$1.14 billion, through Slate Asset Management L.P. The Portfolio includes 95 assets totaling 6.2 million square feet comprised of office, retail and industrial properties located in the Greater Toronto Area, Atlantic Canada and Western Canada.
The Fund is a closed-end private equity vehicle managed by Slate Asset Management L.P. with a strategy to acquire commercial real estate through complex portfolio acquisitions, cyclical investing and/or asset repositioning opportunities. Slate Asset Management L.P., headquartered in Toronto, is a leading real estate investment platform with over C$4.5 billion in assets under management.
McCarthy Tétrault LLP advised Slate Asset Management L.P. with a team led by Jonathan See, John Currie and Isabel Henkelman that included Kent Beattie, Andrejs Mistiouk, Anthony Salandra, Danny McMullen, David Meier, Sarit Pandya and Tina Peters (Real Property and Planning), Oliver Borgers and Jonathan Bitran (Competition), Matthew Cumming (Business), and Patrick McCay (Tax).