Date Closed

April 20, 2012

Lead Office

Toronto

Value

50.00 Million USD

On April 20, 2012, Slate US Opportunity (No. 1) Realty Trust (the "Trust") completed its initial public offering of class A units (the "Class A Units") and class U units (the "Class U Units" and, collectively with the Class A Units, the "Units") at a price of C$10.00 per Class A Unit and US$10.00 per Class U Unit. The offering raised total gross proceeds of approximately US$50 million. Contemporaneously with the closing of the Offering, the Trust also issued 500,000 Class I Units on a private placement basis at a purchase price of US$10.00 per Class I Unit for additional gross proceeds of US$5 million

The syndicate of agents for the offering was led by CIBC, BMO Capital Markets and RBC Capital Markets and included GMP Securities L.P., Raymond James Ltd., Scotia Capital Inc., Canaccord Genuity Corp., Macquarie Private Wealth Inc., Desjardins Securities Inc. and Dundee Securities Ltd. 

Slate Properties Inc. ("Slate") is the manager of the Trust. 

The Trust’s objective is to indirectly acquire, own and lease a portfolio of diversified revenue-producing commercial real estate properties in the US with a focus on anchored retail properties. 

McCarthy Tétrault LLP represented CIBC World Markets, the term agent, with a team led by Andrew Armstrong.