TORONTO–(BUSINESS WIRE)–Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, today announced its financial results and highlights for the three and nine months ended September 30, 2022.\n<\/p>\n
<\/a><\/p>\n \n\u201cThe last three months have further strengthened our conviction in the REIT’s grocery-anchored real estate,\u201d said Blair Welch, Chief Executive Officer of Slate Grocery REIT. \u201cOur growth strategy has always rested on buying high-quality real estate at attractive pricing with below market rents. In today\u2019s rising rate and inflationary environment, we are confident that our ability to unlock the embedded rental rate growth in our portfolio and significantly increase our revenues will offset any negative impacts on value and continue to drive our performance.\u201d\n<\/p>\n \nFor the CEO’s letter to unitholders for the quarter, please follow the link here<\/a>.\n<\/p>\n \nHighlights\n<\/p>\n Maintained leasing momentum, occupancy, and cash flow growth despite macroeconomic pressures<\/p>\n Completed 523,251 square feet of leasing in the quarter; new deals were completed at 9.5% above in-place rent and renewals at 4.1% above expiring rent. On a year-to-date basis, the REIT’s new leasing spread is 26.6% and total leasing spread is 9.6%. Occupancy remains healthy at 93.1%.<\/p>\n Adjusting for completed redevelopments, same-property Net Operating Income (“NOI”) increased by $0.7 million or 3.0% year-over-year.<\/p>\n Adjusted funds from operations (“AFFO”) per unit for the third quarter of 2022 was $0.24, which represents a $0.01 increase from the comparative period in the prior year.<\/p>\n Established a strategic partnership with the North American Essential Real Estate Income Fund L.P. (the “NA Essential Fund”) and upsized the REIT’s credit facility at an attractive cost to enhance financial flexibility<\/p>\n The REIT\u2019s partnership with the NA Essential Fund provides institutional validation and a consistent source of private capital with which the REIT can pursue compelling investment opportunities.<\/p>\n On July 15, 2022, the REIT amended its existing revolving credit facility and term loans to reduce pricing and improve terms, enhancing its liquidity position and mitigating near-term rising interest rate risk.<\/p>\n As at quarter end, 89.7% of the REIT’s debt is subject to fixed interest rates.<\/p>\n In a fragmented grocery real estate market, the REIT is well positioned for organic growth and acquisition activity<\/p>\n The REIT’s average in-place rent is $12.17 which is well below market and provides meaningful embedded growth potential.<\/p>\n After quarter end, the REIT completed two strategic dispositions for $19.0 million at a weighted average capitalization rate of 6.6% on forward twelve-month NOI. The REIT expects to recycle the proceeds into accretive new investment opportunities.<\/p>\n \nSummary of Q3 2022 Results\n<\/p>\n \n\u00a0\n<\/p>\n \nThree months ended September 30,\n<\/p>\n \n(thousands of U.S. dollars, except per unit amounts)\n<\/p>\n \n\u00a0\n<\/p>\n \n2022\n<\/p>\n \n\u00a0\n<\/p>\n \n2021\n<\/p>\n \nChange %\n<\/p>\n \nRental revenue\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n48,404\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n34,079\n<\/p>\n \n\u00a0\n<\/p>\n \n42.0%\n<\/p>\n \nNOI 1 2<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n39,455\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n25,647\n<\/p>\n \n\u00a0\n<\/p>\n \n53.8%\n<\/p>\n \nNet income 2<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n33,553\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n9,603\n<\/p>\n \n\u00a0\n<\/p>\n \n249.4%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \nSame-property NOI (3 month period, 71 properties)\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n21,681\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n21,551\n<\/p>\n \n\u00a0\n<\/p>\n \n0.6%\n<\/p>\n \nSame-property NOI (12 month period, 62 properties)\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n77,408\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n76,369\n<\/p>\n \n\u00a0\n<\/p>\n \n1.4%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \nNew leasing (square feet) 2<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n63,068\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n229,290\n<\/p>\n \n\u00a0\n<\/p>\n \n(72.5)%\n<\/p>\n \nNew leasing spread 2<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n9.5%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n20.5%\n<\/p>\n \n\u00a0\n<\/p>\n \n(11.0)%\n<\/p>\n \nTotal leasing (square feet) 2<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n523,251\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n425,821\n<\/p>\n \n\u00a0\n<\/p>\n \n22.9%\n<\/p>\n \nTotal leasing spread 2<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n5.2%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n10.2%\n<\/p>\n \n\u00a0\n<\/p>\n \n(5.0)%\n<\/p>\n \nNew leasing \u2013 anchor \/ junior anchor 2<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u2014\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n307,885\n<\/p>\n \n\u00a0\n<\/p>\n \n(100.0)%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \nWeighted average number of units outstanding (“WA units”)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n61,460\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n49,742\n<\/p>\n \n\u00a0\n<\/p>\n \n23.6%\n<\/p>\n \nFFO 1 2<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n17,696\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n13,686\n<\/p>\n \n\u00a0\n<\/p>\n \n29.3%\n<\/p>\n \nFFO per WA units 1 2<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n0.29\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n0.28\n<\/p>\n \n\u00a0\n<\/p>\n \n3.6%\n<\/p>\n \nFFO payout ratio 1 2 3<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n74.8%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n82.4%\n<\/p>\n \n\u00a0\n<\/p>\n \n(7.6)%\n<\/p>\n \nAFFO 1 2<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n14,596\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n11,478\n<\/p>\n \n\u00a0\n<\/p>\n \n27.2%\n<\/p>\n \nAFFO per WA units 1 2<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n0.24\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n0.23\n<\/p>\n \n\u00a0\n<\/p>\n \n4.4%\n<\/p>\n \nAFFO payout ratio 1 2 3<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n90.7%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n98.3%\n<\/p>\n \n\u00a0\n<\/p>\n \n(7.7)%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(thousands of U.S. dollars, except per unit amounts)\n<\/p>\n \nSeptember 30, 2022\n<\/p>\n \nDecember 31, 2021\n<\/p>\n \nChange %\n<\/p>\n \nTotal assets, IFRS\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n2,321,246\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n1,737,162\n<\/p>\n \n\u00a0\n<\/p>\n \n33.6%\n<\/p>\n \nTotal assets, proportionate interest\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n2,537,778\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n1,955,072\n<\/p>\n \n\u00a0\n<\/p>\n \n29.8%\n<\/p>\n \nDebt, IFRS\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n1,175,041\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n937,744\n<\/p>\n \n\u00a0\n<\/p>\n \n25.3%\n<\/p>\n \nDebt, proportionate interest\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n1,384,846\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n1,149,649\n<\/p>\n \n\u00a0\n<\/p>\n \n20.5%\n<\/p>\n \nNet asset value per unit\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n14.56\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n12.29\n<\/p>\n \n\u00a0\n<\/p>\n \n18.5%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \nNumber of properties 2<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n121\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n107\n<\/p>\n \n\u00a0\n<\/p>\n \n13.1%\n<\/p>\n \nPortfolio occupancy 2<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n93.1%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n93.6%\n<\/p>\n \n\u00a0\n<\/p>\n \n(0.5)%\n<\/p>\n \nDebt \/ GBV ratio\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n50.6%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n54.0%\n<\/p>\n \n\u00a0\n<\/p>\n \n(3.4)%\n<\/p>\n \nInterest coverage ratio 1<\/p>\n \n\u00a0\n<\/p>\n \n2.94x\n<\/p>\n \n\u00a0\n<\/p>\n \n2.98x\n<\/p>\n \n\u00a0\n<\/p>\n \n(1.3)%\n<\/p>\n \n(1) Refer to \u201cNon-IFRS Measures\u201d section below.<\/p>\n \n(2) Includes the REIT’s share of joint venture investments.<\/p>\n \n(3) Adjusting to exclude the impact of the September distributions in relation to the subscription receipt offering completed on September 22, 2021 for the acquisition of the 25 grocery-anchored portfolio, FFO payout ratio and AFFO payout ratio for the third quarter of 2021 would be 76.5% and 91.2%, respectively.<\/p>\n \nConference Call and Webcast\n<\/p>\n \nSenior management will host a live conference call at 9:00 am ET on November 3, 2022 to discuss the results and ongoing business initiatives of the REIT.\n<\/p>\n \nThe conference call can be accessed by dialing (416) 764-8658 or 1 (888) 886-7786. Additionally, the conference call will be available via simultaneous audio found at https:\/\/app.webinar.net\/kWbPB3gBn21<\/a>. A replay will be accessible until November 17, 2022 via the REIT\u2019s website or by dialing (416) 764-8692 or 1 (877) 674-7070 (access code 156927#) approximately two hours after the live event.\n<\/p>\n \nAbout Slate Grocery REIT (TSX: SGR.U \/ SGR.UN)\n<\/p>\n \nSlate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately $2.4 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their everyday needs. The REIT\u2019s resilient grocery-anchored portfolio and strong credit tenants provide unitholders with durable cash flows and the potential for capital appreciation over the longer term. Visit slategroceryreit.com<\/a> to learn more about the REIT.\n<\/p>\n \nAbout Slate Asset Management\n<\/p>\n \nSlate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate\u2019s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com<\/a> to learn more.\n<\/p>\n \nSupplemental Information\n<\/p>\n \nAll interested parties can access Slate Grocery\u2019s Supplemental Information online at slategroceryreit.com<\/a> in the Investors section. These materials are also available on SEDAR or upon request to the REIT at info@slateam.com<\/a> or (416) 644-4264.\n<\/p>\n \nForward Looking Statements\n<\/p>\n \nCertain information herein constitutes \u201cforward-looking information\u201d as defined under Canadian securities laws which reflect management\u2019s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words \u201cplans\u201d, \u201cexpects\u201d, \u201cdoes not expect\u201d, \u201cscheduled\u201d, \u201cestimates\u201d, \u201cintends\u201d, \u201canticipates\u201d, \u201cdoes not anticipate\u201d, \u201cprojects\u201d, \u201cbelieves\u201d, or variations of such words and phrases or statements to the effect that certain actions, events or results \u201cmay\u201d, \u201cwill\u201d, \u201ccould\u201d, \u201cwould\u201d, \u201cmight\u201d, \u201coccur\u201d, \u201cbe achieved\u201d, or \u201ccontinue\u201d and similar expressions identify forward-looking statements. Some of the specific forward-looking statements contained herein include, but are not limited to, statements relating to the impact of the COVID-19 pandemic. There can be no assurance regarding the impact of COVID-19 on the business, operations, and financial performance of the REIT and its tenants, as well as on consumer behaviors and the economy in general. Management believes that the expectations reflected in its forward-looking statements are based upon reasonable assumptions, however, management can give no assurance that actual results, performance or achievements will be consistent with these forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.\n<\/p>\n \nForward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties, and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of the REIT with securities regulators.\n<\/p>\n \nNon-IFRS Measures\n<\/p>\n \nThis news release and accompanying financial statements are based on International Financial Reporting Standards (\u201cIFRS\u201d), as issued by the International Accounting Standards Board (\u201cIASB\u201d).\n<\/p>\n \nWe disclose a number of financial measures in this news release that are not measures used under IFRS, including NOI, same-property NOI, FFO, FFO payout ratio, AFFO, AFFO payout ratio, adjusted EBITDA and the interest coverage ratio, in addition to certain measures on a per unit basis.\n<\/p>\n NOI is defined as rental revenue less operating expenses, prior to straight-line rent, IFRIC 21, Levies (“IFRIC 21”) property tax adjustments and adjustments for equity investment. Same-property NOI includes those properties owned by the REIT for each of the current period and the relevant comparative period excluding those properties under development.<\/p>\n FFO is defined as net income adjusted for certain items including transaction costs, change in fair value of properties, change in fair value of financial instruments, deferred income taxes, unit expense (income), adjustments for equity investment and IFRIC 21 property tax adjustments.<\/p>\n AFFO is defined as FFO adjusted for straight-line rental revenue and sustaining capital, leasing costs and tenant improvements.<\/p>\n FFO payout ratio and AFFO payout ratio are defined as distributions declared divided by FFO and AFFO, respectively.<\/p>\n FFO per WA unit and AFFO per WA unit are defined as FFO and AFFO divided by the weighted average class U equivalent units outstanding, respectively.<\/p>\n Adjusted EBITDA is defined as NOI less general and administrative expenses.<\/p>\n Interest coverage ratio is defined as adjusted EBITDA divided by cash interest paid.<\/p>\n Net asset value is defined as the aggregate of the carrying value of the REIT’s equity, deferred income taxes and exchangeable units of subsidiaries.<\/p>\n Proportionate interest represents financial information adjusted to reflect the REIT’s equity accounted joint ventures and financial real estate assets and its share of net income (losses) from equity accounted joint ventures and financial real estate assets on a proportionately consolidated basis at the REIT’s ownership percentage of the related investment.<\/p>\n \nWe utilize these measures for a variety of reasons, including measuring performance, managing the business, capital allocation and the assessment of risk. Descriptions of why these non-IFRS measures are useful to investors and how management uses each measure are included in Management\u2019s Discussion and Analysis. We believe that providing these performance measures on a supplemental basis to our IFRS results is helpful to investors in assessing the overall performance of our businesses in a manner similar to management. These financial measures should not be considered as a substitute for similar financial measures calculated in accordance with IFRS. We caution readers that these non-IFRS financial measures may differ from the calculations disclosed by other businesses, and as a result, may not be comparable to similar measures presented by others.\n<\/p>\n \nSGR-FR\n<\/p>\n \nCalculation and Reconciliation of Non-IFRS Measures\n<\/p>\n \nThe table below summarizes a calculation of non-IFRS measures based on IFRS financial information.\n<\/p>\n \n\u00a0\n<\/p>\n \nThree months ended September 30,\n<\/p>\n \n(in thousands of U.S. dollars, except per unit amounts)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n2022\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n2021\n<\/p>\n \nRental revenue\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n48,404\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n34,079\n<\/p>\n \nStraight-line rent revenue\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(254)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(8)\n<\/p>\n \nProperty operating expenses\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(7,675)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(4,809)\n<\/p>\n \nIFRIC 21 property tax adjustment\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(6,333)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(4,227)\n<\/p>\n \nContribution from joint venture investments\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n5,313\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n612\n<\/p>\n \nNOI 1 2\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n39,455\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n25,647\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \nCash flow from operations\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n19,909\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n8,034\n<\/p>\n \nChanges in non-cash working capital items\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(1,790)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n793\n<\/p>\n \nTransaction costs\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n250\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u2014\n<\/p>\n \nSubscription receipts equivalent amount\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u2014\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n4,933\n<\/p>\n \nFinance charge and mark-to-market adjustments\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(536)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(465)\n<\/p>\n \nInterest, net and TIF note adjustments\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n37\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n31\n<\/p>\n \nAdjustments for joint venture investments\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n1,929\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n303\n<\/p>\n \nNon-controlling interest\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(3,018)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n57\n<\/p>\n \nTaxes on dispositions\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u2014\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n1\n<\/p>\n \nCapital\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(1,473)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(1,653)\n<\/p>\n \nLeasing costs\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(391)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(492)\n<\/p>\n \nTenant improvements\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(321)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(64)\n<\/p>\n \nAFFO 1 2\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n14,596\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n11,478\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \nNet income 1 2\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n33,553\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n9,603\n<\/p>\n \nChange in fair value of financial instruments\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u2014\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(2,102)\n<\/p>\n \nTransaction costs\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n250\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u2014\n<\/p>\n \nChange in fair value of properties\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(1,442)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(6)\n<\/p>\n \nDeferred income tax (recovery) expense\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(687)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n1,782\n<\/p>\n \nUnit (income) expense\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(1,858)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n33\n<\/p>\n \nAdjustments for joint venture investments\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(2,177)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n3,621\n<\/p>\n \nNon-controlling interest\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(3,610)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n48\n<\/p>\n \nSubscription receipts equivalent amount\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u2014\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n4,933\n<\/p>\n \nTaxes on dispositions\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u2014\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n1\n<\/p>\n \nIFRIC 21 property tax adjustment\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(6,333)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(4,227)\n<\/p>\n \nFFO 1 2\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n17,696\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n13,686\n<\/p>\n \nStraight-line rental revenue\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(254)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(8)\n<\/p>\n \nCapital expenditures\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(1,473)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(1,653)\n<\/p>\n \nLeasing costs\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(391)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(492)\n<\/p>\n \nTenant improvements\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(321)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(64)\n<\/p>\n \nAdjustments for joint venture investments\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(1,253)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u2014\n<\/p>\n \nNon-controlling interest\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n592\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n9\n<\/p>\n \nAFFO 1 2\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n14,596\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n11,478\n<\/p>\n \n(1) Refer to \u201cNon-IFRS Measures\u201d section above.<\/p>\n \n(2) Includes the REIT’s share of joint venture investments.<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \nThree months ended September 30,\n<\/p>\n \n(in thousands of U.S. dollars, except per unit amounts)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n2022\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n2021\n<\/p>\n \nNOI 1 2<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n39,455\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n25,647\n<\/p>\n \nGeneral and administrative expenses\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(3,485)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(2,549)\n<\/p>\n \nCash interest, net\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(12,214)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(8,444)\n<\/p>\n \nFinance charge and mark-to-market adjustments\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(536)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(465)\n<\/p>\n \nCurrent income tax expense\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(37)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(250)\n<\/p>\n \nAdjustments for joint venture investments\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(3,384)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(309)\n<\/p>\n \nNon-controlling interest\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(3,018)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n57\n<\/p>\n \nCapital expenditures\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(1,473)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(1,653)\n<\/p>\n \nLeasing costs\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(391)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(492)\n<\/p>\n \nTenant improvements\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(321)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(64)\n<\/p>\n \nAFFO 1 2\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n14,596\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n11,478\n<\/p>\n \n(1) Refer to \u201cNon-IFRS Measures\u201d section above.<\/p>\n \n(2) Includes the REIT’s share of joint venture investments.<\/p>\n \n\u00a0\n<\/p>\n \nThree months ended September 30,\n<\/p>\n \n(in thousands of U.S. dollars, except per unit amounts)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n2022\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n2021\n<\/p>\n \nNet income 1\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n33,553\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n9,603\n<\/p>\n \nInterest and financing costs\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n12,750\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n13,842\n<\/p>\n \nChange in fair value of financial instruments\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u2014\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(2,102)\n<\/p>\n \nTransaction costs\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n250\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u2014\n<\/p>\n \nChange in fair value of properties\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(1,442)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(6)\n<\/p>\n \nDeferred income tax (recovery) expense\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(687)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n1,782\n<\/p>\n \nCurrent income tax expense\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n37\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n251\n<\/p>\n \nUnit (income) expense\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(1,858)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n33\n<\/p>\n \nAdjustments for joint venture investments\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(46)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n3,930\n<\/p>\n \nStraight-line rent revenue\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(254)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(8)\n<\/p>\n \nIFRIC 21 property tax adjustment\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(6,333)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(4,227)\n<\/p>\n \nAdjusted EBITDA 1 2\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n35,970\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n23,098\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \nNOI 1 2<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n39,455\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n25,647\n<\/p>\n \nGeneral and administrative expenses\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(3,485)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(2,549)\n<\/p>\n \nAdjusted EBITDA 1 2\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n35,970\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n23,098\n<\/p>\n \nCash interest paid\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(12,251)\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n(8,475)\n<\/p>\n \nInterest coverage ratio 1 2\n<\/p>\n \n\u00a0\n<\/p>\n \n2.94x\n<\/p>\n \n\u00a0\n<\/p>\n \n2.73x\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \nWA units\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n61,460\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n49,742\n<\/p>\n \nFFO per WA unit 1 2<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n0.29\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n0.28\n<\/p>\n \nFFO payout ratio 1 2 3<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n74.8%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n82.4%\n<\/p>\n \nAFFO per WA unit 1 2<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n0.24\n<\/p>\n \n\u00a0\n<\/p>\n \n$\n<\/p>\n \n0.23\n<\/p>\n \nAFFO payout ratio 1 2 3<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n90.7%\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n \n98.3%\n<\/p>\n \n1 Includes the REIT’s share of joint venture investments.<\/p>\n \n2 Refer to \u201cNon-IFRS Measures\u201d section above.<\/p>\n \n3 Adjusting to exclude the impact of the September distributions in relation to the subscription receipt offering completed on September 22, 2021 for the acquisition of the 25 grocery-anchored portfolio, FFO payout ratio and AFFO payout ratio for the third quarter of 2021 would be 76.5% and 91.2%, respectively.<\/p>\n \n\u00a0\n<\/p>\n Contacts <\/p>\n
![<\/a><\/p>\n\n\u201cThe last three months have further strengthened our conviction in the REIT’s grocery-anchored real estate,\u201d said Blair Welch, Chief Executive Officer of Slate Grocery REIT. \u201cOur growth strategy has always rested on buying high-quality real estate at attractive pricing with below market rents. In today\u2019s rising rate and inflationary environment, we are confident that our ability to unlock the embedded rental rate growth in our portfolio and significantly increase our revenues will offset any negative impacts on value and continue to drive our performance.\u201d\n<\/p>\n\nFor the CEO’s letter to unitholders for the quarter, please follow the link here<\/a>.\n<\/p>\n\nHighlights\n<\/p>\nMaintained leasing momentum, occupancy, and cash flow growth despite macroeconomic pressures<\/p>\nCompleted 523,251 square feet of leasing in the quarter; new deals were completed at 9.5% above in-place rent and renewals at 4.1% above expiring rent. On a year-to-date basis, the REIT’s new leasing spread is 26.6% and total leasing spread is 9.6%. Occupancy remains healthy at 93.1%.<\/p>\nAdjusting for completed redevelopments, same-property Net Operating Income (“NOI”) increased by $0.7 million or 3.0% year-over-year.<\/p>\nAdjusted funds from operations (“AFFO”) per unit for the third quarter of 2022 was $0.24, which represents a $0.01 increase from the comparative period in the prior year.<\/p>\nEstablished a strategic partnership with the North American Essential Real Estate Income Fund L.P. (the “NA Essential Fund”) and upsized the REIT’s credit facility at an attractive cost to enhance financial flexibility<\/p>\nThe REIT\u2019s partnership with the NA Essential Fund provides institutional validation and a consistent source of private capital with which the REIT can pursue compelling investment opportunities.<\/p>\nOn July 15, 2022, the REIT amended its existing revolving credit facility and term loans to reduce pricing and improve terms, enhancing its liquidity position and mitigating near-term rising interest rate risk.<\/p>\nAs at quarter end, 89.7% of the REIT’s debt is subject to fixed interest rates.<\/p>\nIn a fragmented grocery real estate market, the REIT is well positioned for organic growth and acquisition activity<\/p>\nThe REIT’s average in-place rent is $12.17 which is well below market and provides meaningful embedded growth potential.<\/p>\nAfter quarter end, the REIT completed two strategic dispositions for $19.0 million at a weighted average capitalization rate of 6.6% on forward twelve-month NOI. The REIT expects to recycle the proceeds into accretive new investment opportunities.<\/p>\n\nSummary of Q3 2022 Results\n<\/p>\n\n\u00a0\n<\/p>\n\nThree months ended September 30,\n<\/p>\n\n(thousands of U.S. dollars, except per unit amounts)\n<\/p>\n\n\u00a0\n<\/p>\n\n2022\n<\/p>\n\n\u00a0\n<\/p>\n\n2021\n<\/p>\n\nChange %\n<\/p>\n\nRental revenue\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n48,404\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n34,079\n<\/p>\n\n\u00a0\n<\/p>\n\n42.0%\n<\/p>\n\nNOI 1 2<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n39,455\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n25,647\n<\/p>\n\n\u00a0\n<\/p>\n\n53.8%\n<\/p>\n\nNet income 2<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n33,553\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n9,603\n<\/p>\n\n\u00a0\n<\/p>\n\n249.4%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\nSame-property NOI (3 month period, 71 properties)\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n21,681\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n21,551\n<\/p>\n\n\u00a0\n<\/p>\n\n0.6%\n<\/p>\n\nSame-property NOI (12 month period, 62 properties)\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n77,408\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n76,369\n<\/p>\n\n\u00a0\n<\/p>\n\n1.4%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\nNew leasing (square feet) 2<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n63,068\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n229,290\n<\/p>\n\n\u00a0\n<\/p>\n\n(72.5)%\n<\/p>\n\nNew leasing spread 2<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n9.5%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n20.5%\n<\/p>\n\n\u00a0\n<\/p>\n\n(11.0)%\n<\/p>\n\nTotal leasing (square feet) 2<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n523,251\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n425,821\n<\/p>\n\n\u00a0\n<\/p>\n\n22.9%\n<\/p>\n\nTotal leasing spread 2<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n5.2%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n10.2%\n<\/p>\n\n\u00a0\n<\/p>\n\n(5.0)%\n<\/p>\n\nNew leasing \u2013 anchor \/ junior anchor 2<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u2014\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n307,885\n<\/p>\n\n\u00a0\n<\/p>\n\n(100.0)%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\nWeighted average number of units outstanding (“WA units”)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n61,460\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n49,742\n<\/p>\n\n\u00a0\n<\/p>\n\n23.6%\n<\/p>\n\nFFO 1 2<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n17,696\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n13,686\n<\/p>\n\n\u00a0\n<\/p>\n\n29.3%\n<\/p>\n\nFFO per WA units 1 2<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n0.29\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n0.28\n<\/p>\n\n\u00a0\n<\/p>\n\n3.6%\n<\/p>\n\nFFO payout ratio 1 2 3<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n74.8%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n82.4%\n<\/p>\n\n\u00a0\n<\/p>\n\n(7.6)%\n<\/p>\n\nAFFO 1 2<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n14,596\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n11,478\n<\/p>\n\n\u00a0\n<\/p>\n\n27.2%\n<\/p>\n\nAFFO per WA units 1 2<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n0.24\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n0.23\n<\/p>\n\n\u00a0\n<\/p>\n\n4.4%\n<\/p>\n\nAFFO payout ratio 1 2 3<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n90.7%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n98.3%\n<\/p>\n\n\u00a0\n<\/p>\n\n(7.7)%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(thousands of U.S. dollars, except per unit amounts)\n<\/p>\n\nSeptember 30, 2022\n<\/p>\n\nDecember 31, 2021\n<\/p>\n\nChange %\n<\/p>\n\nTotal assets, IFRS\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n2,321,246\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n1,737,162\n<\/p>\n\n\u00a0\n<\/p>\n\n33.6%\n<\/p>\n\nTotal assets, proportionate interest\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n2,537,778\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n1,955,072\n<\/p>\n\n\u00a0\n<\/p>\n\n29.8%\n<\/p>\n\nDebt, IFRS\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n1,175,041\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n937,744\n<\/p>\n\n\u00a0\n<\/p>\n\n25.3%\n<\/p>\n\nDebt, proportionate interest\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n1,384,846\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n1,149,649\n<\/p>\n\n\u00a0\n<\/p>\n\n20.5%\n<\/p>\n\nNet asset value per unit\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n14.56\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n12.29\n<\/p>\n\n\u00a0\n<\/p>\n\n18.5%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\nNumber of properties 2<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n121\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n107\n<\/p>\n\n\u00a0\n<\/p>\n\n13.1%\n<\/p>\n\nPortfolio occupancy 2<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n93.1%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n93.6%\n<\/p>\n\n\u00a0\n<\/p>\n\n(0.5)%\n<\/p>\n\nDebt \/ GBV ratio\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n50.6%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n54.0%\n<\/p>\n\n\u00a0\n<\/p>\n\n(3.4)%\n<\/p>\n\nInterest coverage ratio 1<\/p>\n\n\u00a0\n<\/p>\n\n2.94x\n<\/p>\n\n\u00a0\n<\/p>\n\n2.98x\n<\/p>\n\n\u00a0\n<\/p>\n\n(1.3)%\n<\/p>\n\n(1) Refer to \u201cNon-IFRS Measures\u201d section below.<\/p>\n\n(2) Includes the REIT’s share of joint venture investments.<\/p>\n\n(3) Adjusting to exclude the impact of the September distributions in relation to the subscription receipt offering completed on September 22, 2021 for the acquisition of the 25 grocery-anchored portfolio, FFO payout ratio and AFFO payout ratio for the third quarter of 2021 would be 76.5% and 91.2%, respectively.<\/p>\n\nConference Call and Webcast\n<\/p>\n\nSenior management will host a live conference call at 9:00 am ET on November 3, 2022 to discuss the results and ongoing business initiatives of the REIT.\n<\/p>\n\nThe conference call can be accessed by dialing (416) 764-8658 or 1 (888) 886-7786. Additionally, the conference call will be available via simultaneous audio found at https:\/\/app.webinar.net\/kWbPB3gBn21<\/a>. A replay will be accessible until November 17, 2022 via the REIT\u2019s website or by dialing (416) 764-8692 or 1 (877) 674-7070 (access code 156927#) approximately two hours after the live event.\n<\/p>\n\nAbout Slate Grocery REIT (TSX: SGR.U \/ SGR.UN)\n<\/p>\n\nSlate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately $2.4 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their everyday needs. The REIT\u2019s resilient grocery-anchored portfolio and strong credit tenants provide unitholders with durable cash flows and the potential for capital appreciation over the longer term. Visit slategroceryreit.com<\/a> to learn more about the REIT.\n<\/p>\n\nAbout Slate Asset Management\n<\/p>\n\nSlate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate\u2019s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com<\/a> to learn more.\n<\/p>\n\nSupplemental Information\n<\/p>\n\nAll interested parties can access Slate Grocery\u2019s Supplemental Information online at slategroceryreit.com<\/a> in the Investors section. These materials are also available on SEDAR or upon request to the REIT at info@slateam.com<\/a> or (416) 644-4264.\n<\/p>\n\nForward Looking Statements\n<\/p>\n\nCertain information herein constitutes \u201cforward-looking information\u201d as defined under Canadian securities laws which reflect management\u2019s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words \u201cplans\u201d, \u201cexpects\u201d, \u201cdoes not expect\u201d, \u201cscheduled\u201d, \u201cestimates\u201d, \u201cintends\u201d, \u201canticipates\u201d, \u201cdoes not anticipate\u201d, \u201cprojects\u201d, \u201cbelieves\u201d, or variations of such words and phrases or statements to the effect that certain actions, events or results \u201cmay\u201d, \u201cwill\u201d, \u201ccould\u201d, \u201cwould\u201d, \u201cmight\u201d, \u201coccur\u201d, \u201cbe achieved\u201d, or \u201ccontinue\u201d and similar expressions identify forward-looking statements. Some of the specific forward-looking statements contained herein include, but are not limited to, statements relating to the impact of the COVID-19 pandemic. There can be no assurance regarding the impact of COVID-19 on the business, operations, and financial performance of the REIT and its tenants, as well as on consumer behaviors and the economy in general. Management believes that the expectations reflected in its forward-looking statements are based upon reasonable assumptions, however, management can give no assurance that actual results, performance or achievements will be consistent with these forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.\n<\/p>\n\nForward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties, and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of the REIT with securities regulators.\n<\/p>\n\nNon-IFRS Measures\n<\/p>\n\nThis news release and accompanying financial statements are based on International Financial Reporting Standards (\u201cIFRS\u201d), as issued by the International Accounting Standards Board (\u201cIASB\u201d).\n<\/p>\n\nWe disclose a number of financial measures in this news release that are not measures used under IFRS, including NOI, same-property NOI, FFO, FFO payout ratio, AFFO, AFFO payout ratio, adjusted EBITDA and the interest coverage ratio, in addition to certain measures on a per unit basis.\n<\/p>\nNOI is defined as rental revenue less operating expenses, prior to straight-line rent, IFRIC 21, Levies (“IFRIC 21”) property tax adjustments and adjustments for equity investment. Same-property NOI includes those properties owned by the REIT for each of the current period and the relevant comparative period excluding those properties under development.<\/p>\nFFO is defined as net income adjusted for certain items including transaction costs, change in fair value of properties, change in fair value of financial instruments, deferred income taxes, unit expense (income), adjustments for equity investment and IFRIC 21 property tax adjustments.<\/p>\nAFFO is defined as FFO adjusted for straight-line rental revenue and sustaining capital, leasing costs and tenant improvements.<\/p>\nFFO payout ratio and AFFO payout ratio are defined as distributions declared divided by FFO and AFFO, respectively.<\/p>\nFFO per WA unit and AFFO per WA unit are defined as FFO and AFFO divided by the weighted average class U equivalent units outstanding, respectively.<\/p>\nAdjusted EBITDA is defined as NOI less general and administrative expenses.<\/p>\nInterest coverage ratio is defined as adjusted EBITDA divided by cash interest paid.<\/p>\nNet asset value is defined as the aggregate of the carrying value of the REIT’s equity, deferred income taxes and exchangeable units of subsidiaries.<\/p>\nProportionate interest represents financial information adjusted to reflect the REIT’s equity accounted joint ventures and financial real estate assets and its share of net income (losses) from equity accounted joint ventures and financial real estate assets on a proportionately consolidated basis at the REIT’s ownership percentage of the related investment.<\/p>\n\nWe utilize these measures for a variety of reasons, including measuring performance, managing the business, capital allocation and the assessment of risk. Descriptions of why these non-IFRS measures are useful to investors and how management uses each measure are included in Management\u2019s Discussion and Analysis. We believe that providing these performance measures on a supplemental basis to our IFRS results is helpful to investors in assessing the overall performance of our businesses in a manner similar to management. These financial measures should not be considered as a substitute for similar financial measures calculated in accordance with IFRS. We caution readers that these non-IFRS financial measures may differ from the calculations disclosed by other businesses, and as a result, may not be comparable to similar measures presented by others.\n<\/p>\n\nSGR-FR\n<\/p>\n\nCalculation and Reconciliation of Non-IFRS Measures\n<\/p>\n\nThe table below summarizes a calculation of non-IFRS measures based on IFRS financial information.\n<\/p>\n\n\u00a0\n<\/p>\n\nThree months ended September 30,\n<\/p>\n\n(in thousands of U.S. dollars, except per unit amounts)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n2022\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n2021\n<\/p>\n\nRental revenue\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n48,404\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n34,079\n<\/p>\n\nStraight-line rent revenue\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(254)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(8)\n<\/p>\n\nProperty operating expenses\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(7,675)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(4,809)\n<\/p>\n\nIFRIC 21 property tax adjustment\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(6,333)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(4,227)\n<\/p>\n\nContribution from joint venture investments\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n5,313\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n612\n<\/p>\n\nNOI 1 2\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n39,455\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n25,647\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\nCash flow from operations\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n19,909\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n8,034\n<\/p>\n\nChanges in non-cash working capital items\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(1,790)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n793\n<\/p>\n\nTransaction costs\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n250\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u2014\n<\/p>\n\nSubscription receipts equivalent amount\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u2014\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n4,933\n<\/p>\n\nFinance charge and mark-to-market adjustments\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(536)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(465)\n<\/p>\n\nInterest, net and TIF note adjustments\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n37\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n31\n<\/p>\n\nAdjustments for joint venture investments\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n1,929\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n303\n<\/p>\n\nNon-controlling interest\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(3,018)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n57\n<\/p>\n\nTaxes on dispositions\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u2014\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n1\n<\/p>\n\nCapital\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(1,473)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(1,653)\n<\/p>\n\nLeasing costs\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(391)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(492)\n<\/p>\n\nTenant improvements\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(321)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(64)\n<\/p>\n\nAFFO 1 2\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n14,596\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n11,478\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\nNet income 1 2\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n33,553\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n9,603\n<\/p>\n\nChange in fair value of financial instruments\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u2014\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(2,102)\n<\/p>\n\nTransaction costs\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n250\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u2014\n<\/p>\n\nChange in fair value of properties\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(1,442)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(6)\n<\/p>\n\nDeferred income tax (recovery) expense\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(687)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n1,782\n<\/p>\n\nUnit (income) expense\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(1,858)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n33\n<\/p>\n\nAdjustments for joint venture investments\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(2,177)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n3,621\n<\/p>\n\nNon-controlling interest\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(3,610)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n48\n<\/p>\n\nSubscription receipts equivalent amount\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u2014\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n4,933\n<\/p>\n\nTaxes on dispositions\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u2014\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n1\n<\/p>\n\nIFRIC 21 property tax adjustment\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(6,333)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(4,227)\n<\/p>\n\nFFO 1 2\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n17,696\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n13,686\n<\/p>\n\nStraight-line rental revenue\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(254)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(8)\n<\/p>\n\nCapital expenditures\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(1,473)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(1,653)\n<\/p>\n\nLeasing costs\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(391)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(492)\n<\/p>\n\nTenant improvements\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(321)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(64)\n<\/p>\n\nAdjustments for joint venture investments\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(1,253)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u2014\n<\/p>\n\nNon-controlling interest\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n592\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n9\n<\/p>\n\nAFFO 1 2\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n14,596\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n11,478\n<\/p>\n\n(1) Refer to \u201cNon-IFRS Measures\u201d section above.<\/p>\n\n(2) Includes the REIT’s share of joint venture investments.<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\nThree months ended September 30,\n<\/p>\n\n(in thousands of U.S. dollars, except per unit amounts)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n2022\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n2021\n<\/p>\n\nNOI 1 2<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n39,455\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n25,647\n<\/p>\n\nGeneral and administrative expenses\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(3,485)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(2,549)\n<\/p>\n\nCash interest, net\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(12,214)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(8,444)\n<\/p>\n\nFinance charge and mark-to-market adjustments\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(536)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(465)\n<\/p>\n\nCurrent income tax expense\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(37)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(250)\n<\/p>\n\nAdjustments for joint venture investments\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(3,384)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(309)\n<\/p>\n\nNon-controlling interest\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(3,018)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n57\n<\/p>\n\nCapital expenditures\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(1,473)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(1,653)\n<\/p>\n\nLeasing costs\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(391)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(492)\n<\/p>\n\nTenant improvements\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(321)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(64)\n<\/p>\n\nAFFO 1 2\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n14,596\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n11,478\n<\/p>\n\n(1) Refer to \u201cNon-IFRS Measures\u201d section above.<\/p>\n\n(2) Includes the REIT’s share of joint venture investments.<\/p>\n\n\u00a0\n<\/p>\n\nThree months ended September 30,\n<\/p>\n\n(in thousands of U.S. dollars, except per unit amounts)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n2022\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n2021\n<\/p>\n\nNet income 1\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n33,553\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n9,603\n<\/p>\n\nInterest and financing costs\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n12,750\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n13,842\n<\/p>\n\nChange in fair value of financial instruments\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u2014\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(2,102)\n<\/p>\n\nTransaction costs\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n250\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u2014\n<\/p>\n\nChange in fair value of properties\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(1,442)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(6)\n<\/p>\n\nDeferred income tax (recovery) expense\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(687)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n1,782\n<\/p>\n\nCurrent income tax expense\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n37\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n251\n<\/p>\n\nUnit (income) expense\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(1,858)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n33\n<\/p>\n\nAdjustments for joint venture investments\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(46)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n3,930\n<\/p>\n\nStraight-line rent revenue\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(254)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(8)\n<\/p>\n\nIFRIC 21 property tax adjustment\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(6,333)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(4,227)\n<\/p>\n\nAdjusted EBITDA 1 2\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n35,970\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n23,098\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\nNOI 1 2<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n39,455\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n25,647\n<\/p>\n\nGeneral and administrative expenses\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(3,485)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(2,549)\n<\/p>\n\nAdjusted EBITDA 1 2\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n35,970\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n23,098\n<\/p>\n\nCash interest paid\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(12,251)\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n(8,475)\n<\/p>\n\nInterest coverage ratio 1 2\n<\/p>\n\n\u00a0\n<\/p>\n\n2.94x\n<\/p>\n\n\u00a0\n<\/p>\n\n2.73x\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\nWA units\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n61,460\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n49,742\n<\/p>\n\nFFO per WA unit 1 2<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n0.29\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n0.28\n<\/p>\n\nFFO payout ratio 1 2 3<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n74.8%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n82.4%\n<\/p>\n\nAFFO per WA unit 1 2<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n0.24\n<\/p>\n\n\u00a0\n<\/p>\n\n$\n<\/p>\n\n0.23\n<\/p>\n\nAFFO payout ratio 1 2 3<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n90.7%\n<\/p>\n\n\u00a0\n<\/p>\n\n\u00a0\n<\/p>\n\n98.3%\n<\/p>\n\n1 Includes the REIT’s share of joint venture investments.<\/p>\n\n2 Refer to \u201cNon-IFRS Measures\u201d section above.<\/p>\n\n3 Adjusting to exclude the impact of the September distributions in relation to the subscription receipt offering completed on September 22, 2021 for the acquisition of the 25 grocery-anchored portfolio, FFO payout ratio and AFFO payout ratio for the third quarter of 2021 would be 76.5% and 91.2%, respectively.<\/p>\n\n\u00a0\n<\/p>\nContacts <\/p>\n\nFor Further InformationInvestor Relations\nTel: +1 416 644 4264\nE-mail: ir@slateam.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"TORONTO–(BUSINESS WIRE)–Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, today announced its financial results and highlights for the three and nine months ended September 30, 2022. \u201cThe last three months have further strengthened our conviction in the REIT’s grocery-anchored real estate,\u201d said Blair Welch, Chief […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[49630],"tags":[],"settori":[],"slider_categorie_and_home_page":[],"class_list":["post-831988","post","type-post","status-publish","format-standard","hentry","category-real-estate-in-asia-pacific"],"acf":[],"yoast_head":"\nSlate Grocery REIT Reports Third Quarter 2022 Results - BeBeez<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Slate Grocery REIT Reports Third Quarter 2022 Results - BeBeez\" \/>\n<meta property=\"og:description\" content=\"TORONTO–(BUSINESS WIRE)–Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, today announced its financial results and highlights for the three and nine months ended September 30, 2022. \u201cThe last three months have further strengthened our conviction in the REIT’s grocery-anchored real estate,\u201d said Blair Welch, Chief […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/\" \/>\n<meta property=\"og:site_name\" content=\"BeBeez\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-03T17:08:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/bebeez.it\/wp-content\/uploads\/2019\/10\/be-beez-logo-x2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"683\" \/>\n\t<meta property=\"og:image:height\" content=\"242\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Slate Grocery REIT Reports Third Quarter 2022 Results\",\"datePublished\":\"2022-11-03T17:08:43+00:00\",\"dateModified\":\"2022-11-03T17:08:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/\"},\"wordCount\":2048,\"publisher\":{\"@id\":\"https:\/\/15.161.165.86\/#organization\"},\"articleSection\":[\"Real Estate in Asia Pacific\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/\",\"url\":\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/\",\"name\":\"Slate Grocery REIT Reports Third Quarter 2022 Results - BeBeez\",\"isPartOf\":{\"@id\":\"https:\/\/15.161.165.86\/#website\"},\"datePublished\":\"2022-11-03T17:08:43+00:00\",\"dateModified\":\"2022-11-03T17:08:43+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/bebeez.it\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Slate Grocery REIT Reports Third Quarter 2022 Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/15.161.165.86\/#website\",\"url\":\"https:\/\/15.161.165.86\/\",\"name\":\"BeBeez\",\"description\":\"BeBeez\",\"publisher\":{\"@id\":\"https:\/\/15.161.165.86\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/15.161.165.86\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/15.161.165.86\/#organization\",\"name\":\"BeBeez\",\"url\":\"https:\/\/15.161.165.86\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/15.161.165.86\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/bebeez.it\/wp-content\/uploads\/2019\/10\/be-beez-logo.png\",\"contentUrl\":\"https:\/\/bebeez.it\/wp-content\/uploads\/2019\/10\/be-beez-logo.png\",\"width\":309,\"height\":122,\"caption\":\"BeBeez\"},\"image\":{\"@id\":\"https:\/\/15.161.165.86\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Slate Grocery REIT Reports Third Quarter 2022 Results - BeBeez","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/","og_locale":"en_US","og_type":"article","og_title":"Slate Grocery REIT Reports Third Quarter 2022 Results - BeBeez","og_description":"TORONTO–(BUSINESS WIRE)–Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, today announced its financial results and highlights for the three and nine months ended September 30, 2022. \u201cThe last three months have further strengthened our conviction in the REIT’s grocery-anchored real estate,\u201d said Blair Welch, Chief […]","og_url":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/","og_site_name":"BeBeez","article_published_time":"2022-11-03T17:08:43+00:00","og_image":[{"width":683,"height":242,"url":"https:\/\/bebeez.it\/wp-content\/uploads\/2019\/10\/be-beez-logo-x2.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"10 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/#article","isPartOf":{"@id":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/"},"author":{"name":"","@id":""},"headline":"Slate Grocery REIT Reports Third Quarter 2022 Results","datePublished":"2022-11-03T17:08:43+00:00","dateModified":"2022-11-03T17:08:43+00:00","mainEntityOfPage":{"@id":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/"},"wordCount":2048,"publisher":{"@id":"https:\/\/15.161.165.86\/#organization"},"articleSection":["Real Estate in Asia Pacific"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/","url":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/","name":"Slate Grocery REIT Reports Third Quarter 2022 Results - BeBeez","isPartOf":{"@id":"https:\/\/15.161.165.86\/#website"},"datePublished":"2022-11-03T17:08:43+00:00","dateModified":"2022-11-03T17:08:43+00:00","breadcrumb":{"@id":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/slate-grocery-reit-reports-third-quarter-2022-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/bebeez.it\/en\/"},{"@type":"ListItem","position":2,"name":"Slate Grocery REIT Reports Third Quarter 2022 Results"}]},{"@type":"WebSite","@id":"https:\/\/15.161.165.86\/#website","url":"https:\/\/15.161.165.86\/","name":"BeBeez","description":"BeBeez","publisher":{"@id":"https:\/\/15.161.165.86\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/15.161.165.86\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/15.161.165.86\/#organization","name":"BeBeez","url":"https:\/\/15.161.165.86\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/15.161.165.86\/#\/schema\/logo\/image\/","url":"https:\/\/bebeez.it\/wp-content\/uploads\/2019\/10\/be-beez-logo.png","contentUrl":"https:\/\/bebeez.it\/wp-content\/uploads\/2019\/10\/be-beez-logo.png","width":309,"height":122,"caption":"BeBeez"},"image":{"@id":"https:\/\/15.161.165.86\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/bebeez.it\/en\/wp-json\/wp\/v2\/posts\/831988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bebeez.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bebeez.it\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bebeez.it\/en\/wp-json\/wp\/v2\/comments?post=831988"}],"version-history":[{"count":0,"href":"https:\/\/bebeez.it\/en\/wp-json\/wp\/v2\/posts\/831988\/revisions"}],"wp:attachment":[{"href":"https:\/\/bebeez.it\/en\/wp-json\/wp\/v2\/media?parent=831988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bebeez.it\/en\/wp-json\/wp\/v2\/categories?post=831988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bebeez.it\/en\/wp-json\/wp\/v2\/tags?post=831988"},{"taxonomy":"settori","embeddable":true,"href":"https:\/\/bebeez.it\/en\/wp-json\/wp\/v2\/settori?post=831988"},{"taxonomy":"slider_categorie_and_home_page","embeddable":true,"href":"https:\/\/bebeez.it\/en\/wp-json\/wp\/v2\/slider_categorie_and_home_page?post=831988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/mms.businesswire.com\/media\/20221102006194\/en\/814375\/5\/L_Slate_Grocery_REIT_PNG_E.jpg\"){kind=link}