Slate's St. Elmo Central center in Chattanooga, Tenn.
To make it absolutely plain that its business is 100% based on grocery-anchored shopping centers, the Slate Retail REIT has changed its name to Slate Grocery REIT.
“Slate Grocery REIT better reflects our business and investment thesis, which have always been and will continue to be centered around investing in high quality, grocery-anchored assets in major markets across the United States,” said the company’s CEO David Dunn.
In Q2 2020, Slate acquired seven properties for $90 million, adding more than 623,000 sq. ft. of GLA to its portfolio of more than 70 centers. Slate is an active buyer and seller of grocery-anchored properties that has kept its total occupancy rate above 90% during the COVID-19 crisis.
“We are poised to use our strong balance sheet to take advantage of compelling opportunities to build on the quality of the portfolio headed into the back half of the year,” Dunn said.