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On September 28, 2026, Slate Grocery REIT, a Toronto-based, TSX-listed owner and operator of U.S. grocery-anchored real estate, entered into a definitive arrangement agreement to be acquired and taken private by a U.S.-based joint venture between Brixmor Property Group Inc. and affiliates of Everview Partners, L.P. in an all-cash transaction. Unitholders will receive $13.00 per unit in cash, representing a total enterprise value of approximately $2.34 billion. The consideration reflects a premium of about 13 percent to the REIT's closing unit price on May 21, 2026, the last trading day before its strategic review was announced, and about 20 percent to the September 23, 2026 close. Under the transaction and joint venture agreements, Brixmor will effectively acquire 23 grocery-anchored shopping centres, comprising roughly three million square feet, for $636 million, while a newly formed institutional joint venture between Brixmor and Everview will acquire the remaining 92 assets, about 12 million square feet, for $1.71 billion. Everview will hold 80 percent of the joint venture's common equity and Brixmor 20 percent, with Brixmor also making an approximately $174 million preferred equity investment and managing and leasing the properties. A subsidiary of the Abu Dhabi Investment Authority will invest alongside Everview as a strategic investor. The REIT's board, acting on the recommendation of a special committee of independent trustees, unanimously recommended that unitholders approve the transaction, which is expected to close in the first quarter of 2027.
Parties
Company
Slate Grocery REIT
Company
Brixmor Property Group Inc.
Company
Everview Partners, L.P.
Deal Type
Merger & AcquisitionIndustry
OtherTransaction
$ 3,320,000,000Deal Status
ActiveClosing Date