SOURCE: Slate Office REIT

Slate Office REIT

October 30, 2015 09:28 ET

Slate Office REIT Now Owns 100% of MTS Data Centre; Announces Release Date for Third Quarter 2015 Results and Conference Call

TORONTO, ON--(Marketwired - October 30, 2015) - Slate Office REIT (TSX: SOT.UN) ("Slate Office") today announced that it has completed the purchase of the remaining 20% equity interest in the MTS Data Centre partnership for $5.2 million, increasing its equity ownership to 100%.

The MTS Data Centre (the "Data Centre") is a fully pre-leased development in Winnipeg, Manitoba. Occupancy and rent commenced in June 2015. The 15-year lease with Manitoba Telecom Services is on a quadruple net basis. The Data Centre will have a significant positive impact on Slate Office's financial performance: on an annualized basis, the incremental year one contribution to Funds from Operations will be approximately $4.4 million based on 100% ownership.

Third Quarter 2015 Results and Conference Call

Slate Office will be releasing its third quarter 2015 results after market hours on Thursday, November 5, 2015. Senior management will host a live conference call at 10:30 a.m. ET on Friday, November 6, 2015 to discuss the results and ongoing business initiatives.

The conference call can be accessed by dialing (647) 788-4919 or toll-free (877) 291-4570. Additionally, the conference call will be available via simultaneous audio webcast on the Slate Office's website at www.slateam.com/SOT. A replay will be available on the website or by dialing (416) 621-4642 or toll-free (800) 585-8367, conference ID 72509324, approximately two hours after the event, available until November 20, 2015.

About Slate Office REIT

Slate Office REIT is an open-ended real estate investment trust. The REIT's portfolio currently comprises 47 strategic and well-located real estate assets located primarily across Canada's major population centres. The REIT is focused on maximizing value through internal organic rental and occupancy growth and strategic acquisitions. Visit slateam.com/SOT to learn more.

About Slate

Slate Asset Management L.P. is a leading real estate investment platform with $3 billion in assets under management. Slate is a value-oriented company and a significant sponsor of all its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

Contact Information

  • For Further Information:

    Scott Antoniak
    Chief Executive Officer
    Slate Office REIT
    +1 416 583 1764
    scott@slateam.com

    Conor McBroom
    Vice President, Investor Relations
    Slate Asset Management L.P.
    +1 416 619 4284
    conor@slateam.com