The Abu Dhabi Investment Authority (ADIA), one of the largest sovereign wealth funds globally, is backing the acquisition of US-based Slate Grocery REIT, valued at over $2.3B.
This investment will be executed by Brixmor Property Group, a prominent shopping centre operator listed on the New York Stock Exchange in partnership with Everview Partners: a private investment management firm based in the US.
Acquisition Overview
Brixmor will acquire a portfolio consisting of 23 grocery-anchored shopping centres for a total of $636M.
A newly established joint venture between Brixmor and affiliates of Everview will take over the remaining 92 assets for approximately $1.7B.
This transaction is notable for being unconditional with respect to financing and is projected to conclude in the first quarter of 2027.
Approval of Transaction
Both Brixmor and Slate Grocery REIT boards have given their approval for the transaction.
The identity of the ADIA subsidiary involved and the precise amount of its investment have not been disclosed.
Yet the move underscores ADIA’s commitment to expanding its footprint in the North American real estate sector.
ADIA’s AUM
ADIA is currently recognised as the third-largest sovereign wealth fund worldwide with AUM valued at $1.1T according to Global SWF.
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