Slate Asset Management Announces Acceleration of Global Essential Real Estate Strategy and Strategic Reduction In Office Portfolio

TORONTO – Slate Asset Management (“Slate”), a global alternative investment platform targeting real assets, today announced the firm is accelerating its focus on essential real estate. Slate will continue to invest globally across asset classes and the risk spectrum in real estate that supports the non-discretionary needs of day-to-day life, including grocery, residential, industrial and logistics, and healthcare.

As part of this acceleration, Slate announced that it has accepted an offer to sell its interest in a privately-owned 11-property portfolio of office real estate located in Midtown Toronto and Ottawa. Additionally, earlier this month, Slate Management ULC, a subsidiary of Slate that serves as the external manager of Slate Office REIT (the “REIT”), initiated a process to terminate its external management agreement with the REIT. Together, these transactions significantly decrease Slate’s global exposure to office real estate.

“Our decision to sharpen Slate’s focus on the theme of essential real estate will allow us to redeploy capital, expertise, and resources to asset classes within our portfolio that we believe are highly defensive and generate the best risk adjusted returns for our investors,” said Brady Welch, Co-Founding Partner of Slate. “We have spent nearly 20 years building a platform that is global, diversified, and highly resilient. Over 80% of our real estate portfolio is comprised of asset types outside of traditional office spaces, and we believe this is an opportune time to direct our team’s collective energy into the areas of our business that are best positioned to drive value for our partners.”

“While we continue to believe the outlook for the office market will improve over time, we are focusing on the opportunity to scale our investments in sectors that are benefitting from strong tailwinds and high growth,” added Blair Welch, Co-Founding Partner of Slate. “Our well-established platforms in the US, Canada, and Europe will enable us to continue deploying capital strategically and opportunistically in asset classes that align with this thematic focus on essential real estate.”

Slate has been an active investor in real estate that supports the non-discretionary needs of day-to-day life since 2011. Today, Slate’s operates a global portfolio of real estate that spans US$9 billion in assets under management and includes grocery, residential, industrial and logistics, healthcare, and other essential asset classes.

About Slate Asset Management

Slate Asset Management is a global alternative investment platform. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform focuses on four areas of real assets, including real estate equity, real estate credit, real estate securities, and infrastructure. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more, and follow Slate Asset Management on LinkedIn, X (Twitter), and Instagram.

Contacts

Slate Asset Managment

Karolina Kmiecik

[email protected]