Slate Office REIT, an owner and operator of high-quality workplace real estate, announced that it has successfully refinanced the mortgage loans on two of its Greater Toronto Area assets, collectively totaling approximately $140.0 million.
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A $45.3 million mortgage on the REIT’s joint venture properties at the Woodbine & Steeles Corporate Centre in Markham, Ontario was refinanced with a two-year $50.0 million mortgage.
Additionally, a $95.9 million mortgage on the REIT’s properties at the West Metro Corporate Centre in Toronto, Ontario was refinanced with a one-year mortgage of up to $90.0 million, extendable by a further year. In connection with the closing of this refinancing, the REIT now owns 100% of West Metro Corporate Centre.
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Slate Office REIT is a global owner and operator of high-quality workplace real estate. The REIT owns interests in and operates a portfolio of strategic and well-located real estate assets in North America and Europe. The majority of the REIT’s portfolio is comprised of government and high-quality credit tenants. The REIT acquires quality assets at a discount to replacement cost and creates value for unitholders by applying hands-on asset management strategies to grow rental revenue, extend lease term and increase occupancy.
Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities
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