ADIA unit part of $2.34bln buyout of Canada’s Slate Grocery REIT

By Staff Writer

An Abu Dhabi Investment Authority (ADIA) unit is participating as an investor in the $2.34 billion buyout of Canada’s Slate Grocery REIT by US-based firms, Brixmor Property Group Inc. and Everview Partners.

The ADIA subsidiary is acting as an investor alongside investment firm Everview in the transaction, a statement by Brixton read, without disclosing details of the Abu Dhabi wealth fund’s financial commitment.

As part of the buyout, Brixmor will acquire a portfolio of 23 grocery-anchored shopping centres across the US, aggregating approximately three million square feet for $636 million, and a newly formed institutional joint venture between Brixmor and affiliates of Everview Partners will acquire the remaining 92 assets for $1.71 billion.

Slate Grocery REIT is an owner and operator of US grocery-anchored real estate.

(Writing by Bindu Rai, editing by Seban Scaria)

bindu.rai@lseg.com