Slate Office REIT property along 646 Main Street in New Brunswick. (Photo: Google Maps)

Slate Office REIT has completed a previously announced acquisition of seven properties located in the Greater Toronto Area and Atlantic Canada for CAD191.4 million (USD148 million).

The purchase consideration was partially paid from proceeds of the sale of 12,778,800 subscription receipts of the REIT at a price of CAD8.10 each.

The sale, which closed on 26 January, 2018, raised gross proceeds of approximately CAD103.5 million for the REIT.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.