Right on cue following its dividend suspension, Slate Grocery (SGR-UN) announced it’s going private in a US$2.3B deal, representing a 13% premium to the pre-strategic review price…

… and adding to the list of REIT privatizations this year.

Plaza Retail REIT (PLZ-UN) looks like it could be next, with Axia making a hostile bid in July and indications that other potential buyers are circling - which comes during a period of improving fundamentals…

… that could enable the Board to demand more value for unitholders. We’ll see how it ultimately plays out, with Morguard (15% owner) already indicating support for Axia’s bid…

… while Plaza’s founders (near-20% total ownership) have naturally remained quiet during the review.

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