Slate U.S. Opportunity (No. 3) Realty Trust (the "Trust") announced today that it has entered into a binding agreement to purchase a 42,500 square foot shopping centre in Lovingston, VA for U.S.$3,500,000 (U.S. $82 per square foot). The property is anchored by a Food Lion grocery store. The acquisition is expected to be completed in third quarter 2014 and remains subject to customary closing conditions.

Including the above-mentioned transaction, the Trust has acquired thirteen (13) assets and has substantially invested the proceeds stemming from its initial public offering in October 2013. The Trust was established for the primary purpose of indirectly acquiring, owning and leasing a portfolio of diversified revenue-producing commercial real estate properties in the U.S. with a focus on anchored retail properties. Slate Properties Inc. ("Slate") is the trust Manager.

About Slate Properties Inc.

Slate is a Toronto-based commercial real estate investor and asset manager. Slate's founding partners have nearly two decades of experience in the industry managing complex real estate transactions in domestic and international markets. Since 2005, the company has acquired over C$2.5 billion of commercial real estate assets across North America. The company currently co-invests in and manages various investment vehicles, including the Trust and Slate Retail REIT (TSX: SRT.UN / SRT.U), an open-ended investment trust that is listed on the Toronto Stock Exchange. Slate also owns and manages a portfolio of Canadian office properties with domestic institutional equity. www.slateproperties.ca

Blair Welch
Partner & Co-Founder,
Slate Asset Management L.P.
+1 416 644 4267
blair@slateam.com

Brady Welch
Partner & Co-Founder,
Slate Asset Management L.P.
+1 416 644 4263