Slate Asset Management Expands Footprint with Key Acquisition

Slate Asset Management's Strategic Acquisition

Slate Asset Management, a leading global investor specializing in essential real estate and infrastructure assets, has made headlines with its recent acquisition of the Morrisons Regional Distribution Center. This facility, strategically located in South England, represents a significant addition to Slate's portfolio, showcasing their commitment to investing in essential operational hubs.

A Prime Distribution Hub

The Morrisons Regional Distribution Center spans an impressive 780,000 square feet and is fully leased to Morrisons, a prominent British grocery chain. This facility is vital for Morrisons, serving nearly 20% of their supermarket locations while operating 24/7. Such a high level of operation underscores the center's importance in the UK supply chain.

Location and Connectivity

Its strategic positioning near major transport routes makes the center an asset in logistics. It is placed on a crucial motorway in the region, ensuring efficient connections to various parts of South England and South Wales. This prime location facilitates the timely delivery of goods, thereby ensuring that shelves across the region remain full of essential products.

Commitment to Sustainability

What sets this facility apart is its strong environmental footprint. The center boasts over 4,000 rooftop solar panels and systems for rainwater harvesting, complemented by effective on-site recycling programs. Morrisons’ ongoing dedication to sustainability through upgrades and technology improvements enhances the operational resilience of the site, illustrating a forward-thinking approach to business practices.

Management Insight

Brady Welch, Co-Founding Partner at Slate, emphasized the strategic nature of this investment, stating that it fulfills their criteria for income-generating essential real estate. He remarked on the modern, sustainable attributes of the property and highlighted its capacity to effectively distribute everyday goods to millions. This acquisition reflects Slate's active interest in expanding its footprint in the UK market.

Slate's European Investment Approach

Since 2016, Slate Asset Management has significantly broadened its activities in the European real estate sector, having transacted on approximately 1,000 commercial properties to date. Their investment strategy covers various essential real estate categories, including grocery, pharmacy, logistics, and other sectors that fulfill the daily needs of consumers.

Advisory and Closing Details

The acquisition of the Morrisons Regional Distribution Center was advised by Cushman & Wakefield, Gowling WLG, and KPMG. The deal is poised for closure in the coming months, pending customary conditions.

About Slate Asset Management

Slate Asset Management is renowned for its strategic approach toward investing in real estate and infrastructure that are essential to modern life. Focusing on delivering long-term value, Slate leverages its excellent team and flexible capital to pursue various promising investment opportunities. To learn more about their initiatives and services, visit slateam.com and connect with them on social platforms such as LinkedIn, Twitter, and Instagram.

Frequently Asked Questions

What is the significance of the Morrisons Regional Distribution Center?

The center is vital for Morrisons, serving a significant portion of their grocery operations in the UK, demonstrating its importance in the supply chain.

How does Slate Asset Management ensure sustainability?

Slate focuses on properties with strong ESG credentials, such as solar power usage and recycling systems, emphasizing sustainability in their acquisitions.

What is the size of the Morrisons Distribution Center acquired?

The distribution center spans 780,000 square feet, making it a substantial asset for Slate's portfolio.

Who advised Slate on this acquisition?

Cushman & Wakefield, Gowling WLG, and KPMG provided advisory services for this significant transaction.

When is the deal expected to close?

The acquisition is anticipated to close in December 2024, subject to customary closing conditions.

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