Slate Grocery REIT completes C$75M Bought Deal Financing

Date Closed

December 10, 2020

Lead Office

Toronto

Value

75.00 Million CAD

On December 10, 2020, Slate Grocery REIT (the REIT) completed its previously announced public offering of 6,360,000 class U units of the REIT at a price of C$11.80 per unit for gross proceeds of approximately C$75 million. The public offering was conducted on a bought deal basis by a syndicate of underwriters led by BMO Nesbitt Burns Inc. and CIBC World Markets Inc. The REIT intends to initially use the net proceeds to repay existing indebtedness.

Slate Grocery REIT, based in Toronto, Ontario, is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately US$1.3 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their daily needs.

McCarthy Tétrault LLP advised Slate Grocery REIT with a team led by Matthew Cumming and Heidi Gordon that included Gianluca Mazzanti, Jaclyn Wang and Sharon Kretchmar (Securities), Patrick McCay and Kabir Jamal (Tax).

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