Slate Grocery REIT Agrees to $2.3B Buyout at $13 Per Unit

Slate Grocery REIT has entered into a definitive arrangement agreement to be acquired and taken private by a joint venture of Brixmor Property Group Inc. and affiliates of Everview Partners, L.P. in a $2.3 billion all-cash deal, according to an Investing.com report. The transaction provides unitholders with immediate liquidity and concludes a months-long strategic review.

The $13.00 per unit offer price represents a 13% premium over the closing price on May 21, 2026, and a 20% premium compared to the closing price on September 23, 2026. The acquisition values the REIT's enterprise at approximately $2.3 billion.

"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," said Brady Welch, co-founding partner of Slate Asset Management, in a statement regarding the transaction.

Asset Split and Strategic Review Origins

The agreement concludes a formal strategic review process initiated on May 22, 2026. That review followed an unsolicited buyout proposal from affiliates of Slate Asset Management (Canada) L.P., which served as the REIT's external manager.

Under the terms of the acquisition, the portfolio will be divided between the participating buyers. Brixmor will acquire 23 grocery-anchored shopping centers comprising about three million square feet for $636 million, according to a report by RENX. Meanwhile, an institutional joint venture between Brixmor and Everview Partners, alongside strategic investor ADIA, will purchase the remaining 92 assets for $1.71 billion.

Transaction Terms and Termination Fees

The agreement outlines specific financial conditions tied to the closing process, which is expected to occur in the first quarter of 2027. The REIT will terminate its management agreement with Slate Asset Management at closing in exchange for a fixed payment of $50 million. Unitholders will not receive regular distributions from October 2026 through the completion of the deal.

The arrangement includes a termination fee of approximately $31 million payable by the REIT under certain conditions, alongside a reverse termination fee of approximately $63 million payable by the purchaser if the deal fails to close under specified terms.

Approvals Required for Completion

Finalizing the go-private transaction requires meeting several regulatory and shareholder benchmarks. The deal is subject to court approval and requires support from unitholders, including at least 66 2/3% of total votes cast. The vote also requires a simple majority excluding the manager and its affiliated entities.