Slate Office REIT (TSX: SOT.UN)
We launched Slate Office REIT in 2015 with the goal of building Canada's flagship office REIT focused on high quality downtown and suburban office properties with a diversified national footprint.
While many institutional investors and publicly-traded platforms are focused on owning "trophy" office towers in the cores of major Canadian cities, we see a significant opportunity for Slate Office REIT by focusing on acquiring the remaining office properties in downtown and suburban areas, which comprise 67 per cent of all Canadian office inventory. Our view is that a lack of competition for those assets, coupled with a deep market, means that we can discover value that others are overlooking.
Our cost per square foot to acquire these buildings is lower, giving us downside protection, while economic growth in these markets will feed returns over the long term. What's more, occupancy and rents in these markets tend to be less volatile.
That's our vision for creating value.