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BRIEF-Slate Office REIT announces acquisition of properties, $130 million equity offering
March 6, 2017 / 8:33 PM / 8 months ago

BRIEF-Slate Office REIT announces acquisition of properties, $130 million equity offering

March 6 (Reuters) - Slate Office REIT L

* Slate Office REIT announces acquisition of properties, $130 million equity offering

* Says to acquire three office properties located in Greater Toronto Area and Fredericton for an aggregate purchase price of $165 million

* Acquisitions are expected to be immediately accretive to REIT’s 2017E AFFO per unit on a leverage-neutral basis

* Acquisitions will be primarily funded with net proceeds from a $120 million public offering of subscription receipts of REIT

* Acquisitions will also be primarily funded with a $10 million private placement of units of REIT to vendors of the properties

* To sell, on a bought deal basis 14.82 million subscription receipts of REIT at a price of $8.10 per subscription receipt

* In connection with deals, REIT will issue to vendors about $10 million of units by way of private placement at price of $8.10 per unit

* Has cancelled Q4 and year end 2016 results conference call scheduled to take place on Friday, March 10, 2017 at 9:00 a.m. ET Source text for Eikon: Further company coverage:

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