Slate Office REIT Amends Declaration of Trust to Remove Financial Restriction

In a recent special meeting of unitholders, Slate Office REIT announced that it has passed a resolution to amend its Declaration of Trust. The amendment removes the restriction on the REIT’s ability to incur or assume additional debt that would cause its financial leverage to exceed 65% of its gross book value. The trustees of the REIT have decided to implement the amendment in the form of a waiver of the restriction instead of a complete removal. The waiver will be in effect until December 31, 2025. However, the board of trustees still have the discretion to waive the financial restriction if it is deemed to be in the best interest of the REIT.

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The voting results for the Amendment Resolution showed that 24,921,964 unitholders voted in favor of the resolution, representing 68.96% of the votes. On the other hand, 11,218,320 unitholders voted against the resolution, accounting for 31.04% of the votes.

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The final results of all matters discussed in the meeting will be filed with the Canadian securities regulatory authorities and can be accessed on the REIT’s SEDAR profile.

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Slate Office REIT, listed on the Toronto Stock Exchange under the ticker symbol SOT.UN, is a global owner and operator of high-quality workplace real estate. The REIT owns and operates a portfolio of strategic real estate assets in North America and Europe, with a focus on government and high-quality credit tenants. Slate Office REIT aims to acquire quality assets at a discount to replacement cost and generate value for its unitholders through hands-on asset management strategies.

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Slate Office REIT is managed by Slate Asset Management, a global alternative investment platform targeting real assets. The platform offers a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus, and debt investments.