None
SEDAR Interim Financial Statements
SGR · Price
[
{
"metadata": {
"companyName": "Slate Grocery REIT",
"reportingPeriodEnd": "2025-09-30",
"reportStatus": "Unaudited",
"auditorName": null,
"auditorKeyMatters": []
},
"balanceSheet": {
"asOf20250930": {
"assets": {
"nonCurrentAssets": {
"properties": 2066864,
"jointVentureInvestments": 134042,
"interestRateSwaps": 0,
"otherAssets": 3380,
"totalNonCurrentAssets": 2204286
},
"currentAssets": {
"cash": 18999,
"accountsReceivable": 22571,
"otherAssets": 3262,
"prepaids": 8900,
"interestRateSwaps": 0,
"totalCurrentAssets": 53732
},
"totalAssets": 2258018
},
"liabilities": {
"nonCurrentLiabilities": {
"debt": 1188913,
"interestRateSwaps": 2330,
"deferredIncomeTaxes": 159754,
"otherLiabilities": 4393,
"totalNonCurrentLiabilities": 1355390
},
"currentLiabilities": {
"debt": 7602,
"accountsPayableAndAccruedLiabilities": 43079,
"exchangeableUnitsOfSubsidiaries": 8072,
"distributionsPayable": 4323,
"totalCurrentLiabilities": 63076
},
"totalLiabilities": 1418466
},
"equity": {
"unitholdersEquity": 661592,
"nonControllingInterest": 177960,
"totalEquity": 839552
},
"derivedMetrics": {
"cashPerShare": 0.3146,
"workingCapitalPerShare": -0.1547
}
},
"asOf20241231": {
"assets": {
"nonCurrentAssets": {
"properties": 2054511,
"jointVentureInvestments": 112429,
"interestRateSwaps": 4690,
"otherAssets": 3624,
"totalNonCurrentAssets": 2175254
},
"currentAssets": {
"cash": 22668,
"accountsReceivable": 23417,
"otherAssets": 4327,
"prepaids": 5050,
"interestRateSwaps": 2983,
"totalCurrentAssets": 58445
},
"totalAssets": 2233699
},
"liabilities": {
"nonCurrentLiabilities": {
"debt": 1120616,
"interestRateSwaps": 0,
"deferredIncomeTaxes": 153580,
"otherLiabilities": 4378,
"totalNonCurrentLiabilities": 1278574
},
"currentLiabilities": {
"debt": 46039,
"accountsPayableAndAccruedLiabilities": 42071,
"exchangeableUnitsOfSubsidiaries": 8733,
"distributionsPayable": 4323,
"totalCurrentLiabilities": 101166
},
"totalLiabilities": 1379740
},
"equity": {
"unitholdersEquity": 673474,
"nonControllingInterest": 180485,
"totalEquity": 853959
}
}
},
"incomeStatement": {
"threeMonthsEnded20250930": {
"rentalRevenue": 53313,
"propertyOperatingExpenses": -9098,
"generalAndAdministrativeExpenses": -4077,
"interestAndFinanceCosts": -16702,
"shareOfIncomeInJointVentureInvestments": 2331,
"dispositionCosts": 0,
"changeInFairValueOfFinancialInstruments": 543,
"changeInFairValueOfProperties": -12132,
"netIncomeBeforeIncomeTaxesAndUnitExpense": 14178,
"deferredIncomeTaxExpense": -3345,
"currentIncomeTaxRecoveryExpense": 407,
"unitExpense": -2,
"netIncome": 11238,
"otherComprehensiveLoss": -1623,
"comprehensiveIncome": 9615
},
"nineMonthsEnded20250930": {
"rentalRevenue": 158765,
"propertyOperatingExpenses": -56240,
"generalAndAdministrativeExpenses": -12271,
"interestAndFinanceCosts": -47481,
"shareOfIncomeInJointVentureInvestments": 9222,
"dispositionCosts": 0,
"changeInFairValueOfFinancialInstruments": -1279,
"changeInFairValueOfProperties": -287,
"netIncomeBeforeIncomeTaxesAndUnitExpense": 50429,
"deferredIncomeTaxExpense": -8554,
"currentIncomeTaxRecoveryExpense": 102,
"unitExpense": -1576,
"netIncome": 40401,
"otherComprehensiveLoss": -6919,
"comprehensiveIncome": 33482
}
},
"cashFlowStatement": {
"nineMonthsEnded20250930": {
"operatingActivities": {
"netIncome": 40401,
"itemsNotAffectingCash": 5569,
"cashInterestPaidNet": -44644,
"changesInWorkingCapitalItems": -1069,
"netCashFromOperatingActivities": 51460
},
"investingActivities": {
"acquisitions": -457,
"dispositions": 0,
"contributionsToJointVentureInvestments": -15300,
"distributionsFromJointVentureInvestments": 2909,
"fundsHeldInEscrow": 571,
"capitalExpenditures": -4827,
"leasingCosts": -2462,
"tenantImprovements": -3253,
"developmentAndExpansionCapital": -8458,
"netCashUsedInInvestingActivities": -31277
},
"financingActivities": {
"revolverAdvancesNetOfFinancingCosts": 20550,
"mortgageAdvancesNetOfFinancingCosts": 63123,
"revolverTermLoanAndMortgageRepayments": -57667,
"reitUnitDistributions": -38316,
"exchangeableUnitsOfSubsidiariesDistributions": -588,
"distributionsToNonControllingInterest": -10954,
"netCashUsedInFinancingActivities": -23852
},
"netDecreaseInCash": -3669,
"cashBeginningOfPeriod": 22668,
"cashEndOfPeriod": 18999
}
},
"investmentsAndOtherAssets": [
{
"type": "Joint Venture",
"description": "Tom Thumb Portfolio (Texas, Florida, and California)",
"ownershipPercentage": 90,
"value": 72319,
"notes": "10 properties, 90–95% ownership"
},
{
"type": "Joint Venture",
"description": "Northeast Grocery Portfolio (New York and Indiana)",
"ownershipPercentage": 85,
"value": 58345,
"notes": "4 properties, 85% ownership"
},
{
"type": "Joint Venture",
"description": "Windmill Plaza (Michigan)",
"ownershipPercentage": 50,
"value": 3378,
"notes": "1 property, 50% ownership"
}
],
"shareStructure": {
"authorizedShares": "Unlimited",
"issuedShares": 59262,
"classesOfShares": ["Class A", "Class I", "Class U"],
"warrants": [],
"options": [],
"rightsConvertibleInstruments": "Exchangeable units of subsidiaries (convertible into Class U units) and Deferred Unit Plans (rights to receive Class U units)."
},
"managementCompensation": {
"currency": "USD",
"periods": {
"threeMonthsEnded20250930": {
"assetManagementFees": 2331,
"trusteeFees": 200
},
"nineMonthsEnded20250930": {
"assetManagementFees": 6908,
"trusteeFees": 600
}
},
"namedIndividuals": [],
"otherRelatedPartyTransactions": [
{
"counterparty": "Slate Asset Management (Canada) L.P.",
"description": "Asset management fees",
"amount": 6908,
"period": "Nine months ended September 30, 2025"
}
]
},
"subsequentEvents": [
{
"eventDate": "2025-11-05",
"description": "The REIT borrowed $25.9 million on its revolver.",
"impactValue": 25900
},
{
"eventDate": "2025-10-15",
"description": "The REIT declared monthly distributions of $0.072 per class U unit.",
"impactValue": null
}
]
}
]
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