Hamilton Steelport | ?m | ?s | Slate | Gensler

[Chris R.]

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[Mithras]

While this isn't great news, I'd suggest it actually explains a bit about why this project exists at all. Slate's office portfolio is struggling and so them getting into the light industrial and warehouse market makes a lot of sense to me.

That being said, I don't know shit about this field whatsoever, so that's just my layperson thoughts.

And hey, the tacos were legitimately great. Nothing tastes as good as free food on a sunny day though.

Uh oh!

Slate Office REIT defaults on debt, complicating the troubled property owner’s restructuring plans

The company announced last year plans to sell 40 per cent of its assets to handle its debt load and continues to see lower rental demand while interest rates remain high

www.theglobeandmail.com

Slate Asset Management is the external manager of Slate Office REIT and owns very little of it. While this may point to bad execution by their finance group on their mortgages it isn't really indicative of SLAM as a developer.

 

[PaperSun]

Does Slate already own these lands or are they part of Stelco still, has the sale been finalized already? The buyout is interesting wonder does this affect this proposal.

Stelco to be sold to U.S. steelmaking rival Cleveland-Cliffs in $3.8-billion deal

Hamilton steelmaker Stelco to be sold to Cleveland-Cliffs in $3.8-billion deal

www.thespec.com

 

[macro]

Slate has agreed to a long-term sale-leaseback of 75 acres of land and 2 million square feet of buildings for 35 years to Stelco