Slate Grocery REIT, an owner and operator of US grocery-anchored real estate, revealed that it has agreed to acquire a high quality, grocery-anchored portfolio comprising 25 properties and 3.1 million square feet in major metro markets across the United States.
The company says the portfolio is valued at $390 million and is being acquired for an equity purchase price of $90 million and the assumption of existing debt. The acquisition represents a 7.8% capitalization rate or $127 per square foot.
According to David Dunn, CFO of Slate Grocery REIT, this is a "compelling and unique opportunity for the REIT" to acquire the assets on an off-market basis that importantly generates immediate accretion for unitholders, he adds.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
