Brixmor Property and Everview Partners have agreed to acquire TSX-listed Slate Grocery REIT in an all-cash transaction valuing the US grocery-anchored platform at an enterprise value of $2.3bn (€2bn).
The joint venture between Brixmor and Everview affiliates are taking Slate Grocery private by paying $13 per unit in cash, representing a 20% premium to the Slate Grocery’s closing price on 23 September 2026.
The transaction concludes a strategic review process launched by Slate Grocery REIT in May 2026 following an unsolicited proposal from its external manager, Slate Asset Management.
Marc Rouleau, chair of the special committee of Slate Grocery REIT, said: “Following a comprehensive strategic review process, including a competitive auction process, the special committee unanimously concluded that this transaction represents the best available outcome for the REIT and its unitholders.
“The transaction provides unitholders with immediate liquidity and certainty of value at an attractive all-cash price, and is the culmination of a competitive process focused on maximising value for all unitholders. This outcome reflects strong institutional conviction in grocery-anchored real estate. We’re confident Brixmor and Everview’s combined resources and commitment to this sector position this portfolio well for its next chapter.”
Blair Welch, CEO of Slate Grocery REIT and co-founding partner of Slate Asset Management, said: “This outcome validates what we have long believed: grocery-anchored essential real estate is a high-quality, in-demand asset class, and active in-house management creates measurable value for investors.
“The special committee ran a rigorous process and Slate Asset Management, as external manager of the Slate Grocery and its largest investor, is fully supportive of the outcome.”
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