Dec. 5, 2014 – FAM Real Estate Investment Trust (“FAM REIT”) (the “REIT”) (TSX: F.UN) (TSX: F.WT) is pleased to announce that minority unitholders have approved the previously announced indirect acquisition (the “Acquisition”) of a portfolio of seven office properties from Slate GTA Suburban Office Inc. for approximately $190.0 million (subject to adjustment in accordance with the terms of the definitive purchase and sale agreement in respect of the Acquisition). Details of the pending Acquisition are set forth in the REIT’s information circular dated October 30, 2014 in respect of the special meeting of unitholders held today (the “Meeting”) and the REIT’s press release dated October 29, 2014 announcing the Acquisition.
Final results on all matters voted on at the Meeting will be filed shortly with the Canadian securities regulators and will be available on SEDAR.
The REIT anticipates closing the Acquisition prior to December 31, 2014.
Huntingdon Capital Corp., a wholly-owned subsidiary of Toronto-based Slate Asset Management LP (“Slate”), is the REIT’s manager.
About FAM REIT
FAM REIT is an open-ended real estate investment trust. Assuming completion of the Acquisition, the REIT’s portfolio comprises 35 strategic and well-located real estate assets located primarily across Canada’s major population centres. The REIT is focused on maximizing value through internal organic rental and occupancy growth and strategic acquisitions.
About Slate
Slate Asset Management LP is a leading real estate investment platform with over $2 billion in assets under management. Slate is a value-oriented company and a significant sponsor of all its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm’s careful and selective investment approach creates long term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. More information is available at www.slateam.com.
FOR FURTHER INFORMATION
Blair Welch
Partner and Co-Founder,
Slate Asset Management
416 644 4267
or
Brady Welch
Partner and Co-Founder,
Slate Asset Management
416 644 4263
or
Head Office
121 King St W, Suite 200
Toronto, ON M5H 3T9
Tel: +1 416 644 4264
Fax: +1 416 947 9366