Slate Retail REIT acquires seven grocery-anchored properties

Slate Asset Management’s Slate Retail REIT, an owner and operator of a grocery-anchored real estate trust, has entered into a binding agreement to acquire a portfolio of seven grocery-anchored assets for $106.5 million at a rate of 7.6% ($171 per square foot).

The REIT is redeploying capital from completed dispositions of lower tier assets totaling $168.0 million into higher quality grocery-anchored assets for $106.5 million with stronger grocers, improved credit and superior locations.

The acquisition is expected to be completed in the second quarter of 2020 and . . .

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