Slate Grocery REIT gets interim court order for Brixmor-Everview takeover vote

what happened

Slate Grocery REIT, which owns U.S. grocery-anchored properties, said the Ontario Superior Court of Justice granted an interim order on October 22 for its proposed sale to EP/BRX Holdings LLC. The buyer is a joint venture of an affiliate of Brixmor Property Group and affiliates of Everview Partners, L.P. The details come from a press release published by TradingView.

The order allows a virtual-only special meeting of unitholders on November 25, 2026, to vote on the arrangement, which needs at least two-thirds of votes cast. The management circular is expected to be filed and mailed around November 2. The REIT has also asked the Ontario Securities Commission for relief from a class-by-class minority vote under MI 61-101, though there is no assurance it will be granted. If it is not secured in time, class A and class I units would convert into class U units before the meeting.

Completion is expected in the first quarter of 2027, subject to unitholder and court approvals, Investment Canada Act clearance and other closing conditions.

why it matters

For holders of SGR.UN, the deal sets a defined timetable for taking the REIT private. The next milestones are the unitholder vote and the regulator's decision on the voting relief. The impact on the broader market is expected to be limited.

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instruments