BRIEF-Slate Office REIT announces multiple acquisitions and $50 million public offering

Wed Aug 17, 2016 3:32pm EDT
 
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Aug 17 (Reuters) - Slate Office Reit

* Slate Office REIT announces multiple acquisitions and $50 million public offering

* Deal for $12.25 million

* Intention to purchase a government-tenanted office building located at 365 Hargrave Street in Winnipeg, Manitoba

* Says offering consists of a treasury offering by REIT of 5.2 million units for gross proceeds of $44.0 million

* Also increasing interest in 3 office properties in Newfoundland from 49% to 100%, with additional investment of about $19.8 million

* Will use net proceeds of treasury offering to reduce outstanding indebtedness

* Underwriters to sell on a bought deal basis 6 million trust units of reit at a price of $8.45 per unit

* Says acquisitions are immediately accretive to REIT's adjusted funds from operations on a per unit basis

* Amendment to co-ownership agreement with St. John's Harbour Properties where REIT will increase interest in places from 49% to 100% Source text for Eikon: Further company coverage: