Regulation & Approvals
Slate Grocery REIT Gets OSC Relief to Hold Single-Class Vote on EP/BRX Buyout
By News Desk ·
Key takeaways
- The Ontario Securities Commission granted Slate Grocery REIT relief from class-by-class minority approval under MI 61-101 for its acquisition by EP/BRX Holdings.
- Disinterested holders of class A, class I and class U units will vote together as a single class, one vote per unit, by the November 23, 2026 proxy deadline.
- The arrangement still needs two-thirds unitholder approval, a minority approval, a final Ontario Superior Court order and Investment Canada Act clearance, with closing expected in the first quarter of 2027.
Slate Grocery REIT said the Ontario Securities Commission granted it exemptive relief from class-by-class minority approval under Multilateral Instrument 61-101 for its proposed acquisition by EP/BRX Holdings LLC. The relief lets disinterested holders of class A, class I and class U units vote on the arrangement together as a single class, one vote per unit. Business Wire published the announcement on November 11, 2026.
How the Single-Class Vote Will Work
Slate Grocery REIT owns and operates U.S. Grocery-anchored real estate. EP/BRX Holdings is a joint venture between an affiliate of Brixmor Property Group and affiliates of Everview Partners. The arrangement agreement among the REIT, the purchaser and 1001700324 Ontario Inc. Is dated September 27, 2026, and the REIT announced the arrangement on September 28, 2026.
Under the REIT's declaration of trust, the three unit classes generally vote together unless a matter affects one class materially differently from another. The board of trustees determined the arrangement has no such differential effect. Votes that MI 61-101 requires to be excluded will still be excluded from the minority approval vote.
Brixmor's operating partnership closed a $400 million unsecured term loan on November 5, 2026, maturing February 15, 2031, at SOFR plus 80 basis points, PR Newswire reported. Brixmor said proceeds will partly fund the Slate Grocery REIT acquisition and general corporate purposes.
Other Property and Real Estate Filings
Instone Real Estate Group SE filed a corrected voting-rights disclosure on October 21, 2026, FinanzNachrichten.de reported. The filing shows Helikon Long Short Equity Fund Master ICAV holding 10.19% of voting rights, up from 5.08% in the previous filing. Modernland Realty issued a corrected filing on October 31, 2026, reporting September free float of 38.33%, or 4,803,767,696 shares, The future of trading reported, with PT Honoris Corporindo retaining a 13.14% controlling stake.
Slate Grocery REIT's Remaining Approvals
Unitholders are encouraged to vote before the proxy deadline of November 23, 2026, at 11:00 am ET. Closing also requires approval by at least two-thirds of votes cast by unitholders voting as a single class, the applicable minority approval, a final order from the Ontario Superior Court of Justice (Commercial List) and approval under the Investment Canada Act. The REIT expects the arrangement to be completed in the first quarter of 2027, subject to those approvals and the other closing conditions. The circular is available on the REIT's website.