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Slate Grocery REIT Ponies Up $425M for Southeastern Portfolio 

Toronto-based Slate Grocery REIT has agreed to acquire 14 properties comprising 2.5 million square feet from an undisclosed seller. The portfolio is valued at US$425 million and is located across seven states, with over two-thirds of the portfolio value being allocated to the Southeast. 

The REIT has entered formed a joint venture with Slate North American Essential Real Estate Income Fund L.P., a vehicle managed by Slate Asset Management. The NA Essential Fund has agreed to make an initial investment of US$180 million into the REIT’s assets, with proceeds from the investment helping to fund the REIT’s acquisition. 

The portfolio’s anchor tenants comprise a wide range of high-performing grocers, increasing the REIT’s exposure to leading national grocers, including Publix, Ahold Delhaize, Albertsons and Walmart. 

Following the acquisition, Slate Grocery REIT’s pro forma portfolio will comprise 15.7 million square feet and US$2.4 billion of essential grocery-anchored real estate. 

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Slate Grocery REIT

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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