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Slate Office REIT Announces Acquisition of 20 South Clark Street in Chicago, Illinois


379,903 square foot, 31-story, downtown office complex located in Chicago, Illinois. Prominent location in Chicago ... About Slate Office REIT (TSX:SOT.UN) Slate Office REIT is an open-ended real estate investment trust. The REIT’s portfolio currently ...


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Posted by: Nasdaq NewsFeed in Top News 10 days ago TORONTO, Jan02, 2018 (GLOBE NEWSWIRE) — Slate Office REIT (TSX:SOT.UN) (the “REIT”), announced today that it has agreed to acquire 20 South Clark Street, located in downtown Chicago, Illinois for a price of US$85.6 million (US$225 per square foot)The transaction remains subject to customary closing conditions. “We are excited to acquire a high-quality well-located asset in downtown Chicago that offers such attractive returns,” said Scott Antoniak, the REIT’s Chief Executive Officer“The acquisition of 20 South Clark is a first step in our US expansion strategy.  We believe the Chicago market provides ample opportunity for future expansion.” 20 South Clark Highlights 379,903 square foot, 31-story, downtown office complex located in Chicago, Illinois Prominent location in Chicago’s downtown ‘Central Loop’ submarket, surrounded by the city’s legal, government and financial centres Unique underground walking access to Chicago’s train system, providing a direct link to O’Hare International Airport, and adjacent buildings 84% occupied with a weighted average lease term of 5.0 years High quality tenants with in-place rents that are ~18% below market.              The acquisition of 20 South Clark is expected to be completed in the first quarter of 2018 and purchased using existing balance sheet liquidity and new debt financing             About Slate Office REIT (TSX:SOT.UN)Slate Office REIT is an open-ended real estate investment trustThe REIT’s portfolio currently comprises 38 strategic and well-located real estate assets located primarily across Canada’s major population centresThe REIT is focused on maximizing value through internal organic rental and occupancy growth and strategic acquisitionsVisit slateofficereit.com to learn more. About Slate Asset Management L.P.Slate Asset Management L.Pis a leading real estate investment platform with over $4.5 billion in assets under managementSlate is a value-oriented manager and a significant sponsor of all of its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investorsThe firm’s careful and selective investment approach creates long-term value with an emphasis on capital preservation and outsized returnsSlate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunitiesVisit slateam.com to learn more. For Further InformationSlate Office REIT+1 416 644 4264[email protected] About Latest Posts Nasdaq NewsFeedGlobeNewswire, a Nasdaq company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public Latest posts by Nasdaq NewsFeed (see all) No2 2018 Solar discloses the preliminary results for 2017 and writes down goodwill and customer lists - January 12, 2018 North Dallas Bank & Trust CoAnnounces Fourth Quarter Earnings of $0.98 per Share Before Income Tax Expense Adjustment - January 12, 2018 Lykill fjármögnun hf– Bills (LYKILL180716) admitted to trading on 15 January 2018 - January 12, 2018 2018-01-02 Nasdaq NewsFeed window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Previous: Uniti Group Incto Present at the Citi 2018 Global TMT West Conference Next: NewsWatch: S&P 500, Nasdaq end at records in first trading day of 2018; chipmakers boost tech shares Related Articles No2 2018 Solar discloses the preliminary results for 2017 and writes down goodwill and customer lists 10 mins ago North Dallas Bank & Trust CoAnnounces Fourth Quarter Earnings of $0.98 per Share Before Income Tax Expense Adjustment 11 mins ago Lykill fjármögnun hf– Bills (LYKILL180716) admitted to trading on 15 January 2018 12 mins ago var disqus_url = 'https://forextv.com/top-news/slate-office-reit-announces-acquisition-of-20-south-clark-street-in-chicago-illinois/'; var disqus_identifier = '640150 https://forextv.com/top-news/slate-office-reit-announces-acquisition-of-20-south-clark-street-in-chicago-illinois/'; var disqus_container_id = 'disqus_thread'; var disqus_shortname = 'forextv1'; var disqus_title = "Slate Office REIT Announces Acquisition of 20 South Clark Street in Chicago, Illinois"; var disqus_config_custom = window.disqus_config; var disqus_config = function () { /* All currently supported events: onReady: fires when everything is ready, onNewComment: fires when a new comment is posted, onIdentify: fires when user is authenticated */ this.language = '; if (disqus_config_custom) { disqus_config_custom.call(this); } }; (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = '//' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })(); (adsbygoogle = window.adsbygoogle || []).push({}); Need A Business Loan? 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