Slate US Opportunity (No. 1) Realty Trust Completes US$50 Million IPO

Goodmans represented Slate US Opportunity (No. 1) Realty Trust (the "Trust") in connection with the completion of 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$50,000,000. 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$5,000,000. 

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. 

Slate is a Toronto-based commercial real estate investor and asset manager. Since 2005, the company has acquired, owned and disposed of over C$900 million worth of commercial real estate. The company manages and co-invests in a closed-end fund of US retail assets.