Slate Grocery REIT agrees to US$13 per-unit buyout by Brixmor-Everview venture
BRX•Brixmor and Everview Partners will acquire Slate Grocery REIT for US$13 per unit in cash, valuing the deal at about US$2.3 billion. Closing is targeted for the first quarter of 2027.
1. Buyout terms
Brixmor and Everview Partners have agreed to acquire Slate Grocery REIT for US$13 per unit in cash, valuing the deal at about US$2.3 billion. Closing is targeted for the first quarter of 2027; if it occurs after Jan. 20, 2027, the price will increase by US$0.002482 per unit per day. No distributions are planned from October 2026 through closing.
2. Additional transactions
At closing, Slate Asset Management is to receive a fixed US$50 million payment to terminate its external management agreement. The purchaser will also acquire NA Essential’s joint-venture interests for about US$187.5 million. Slate Grocery REIT units are to be delisted from the TSX after completion.
