Slate Closes on Fortis Commercial Portfolio
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The sale includes the Maritime Centre office property in Halifax, Nova Scotia.
TORONTO—Slate Office REIT has completed its acquisition of 14 commercial properties in Atlantic Canada, mainly office buildings, from Fortis Properties Corp.Valued at C $430 million, or approximately US $344 million, the deal nearly doubles the REIT’s asset base and marks the exit of Fortis Properties’ parent company, Forts Inc., from commercial real estate.
The portfolio comprises 10 office buildings, one mixed-use office complex and three retail centers totaling 2.8 million square feet of GLA. Notable regional addresses include Maritime Centre in Halifax, Nova Scotia; the Blue Cross Centre in Moncton, New Brunswick; and Fortis Place in St. John’s, Newfoundland…
Slate Closes on Fortis Commercial Portfolio
