Slate Grocery REIT (TSX:SGR.UN) agreed to acquire 14 properties comprising 2.5 million square feet across United States from SITE Centers Corp., Madison International Realty, LLC and InvenTrust Properties Corp. for approximately $430 million.

Slate Grocery REIT (TSX:SGR.UN) agreed to acquire 14 properties comprising 2.5 million square feet across United States from SITE Centers Corp. (NYSE:SITC), Madison International Realty, LLC and InvenTrust Properties Corp. (NYSE:IVT) for approximately $430 million on June 21, 2022.

The acquisition will be financed through new bank financing, the proceeds from the $180 million Investment from the NA Essential Fund, and existing balance sheet liquidity. The portfolio is valued at $425 million which represents a 6.9% capitalization rate or $174 per square foot. The transaction is expected to close on July 14, 2022.