{"id":1004202160,"date":"2018-01-05T03:49:02","date_gmt":"2018-01-05T11:49:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004202160"},"modified":"2022-12-09T01:51:28","modified_gmt":"2022-12-09T09:51:28","slug":"slate-office-reit-snags-86m-chicago-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/slate-office-reit-snags-86m-chicago-asset\/","title":{"rendered":"Slate Office REIT Snags $86M Chicago Asset"},"content":{"rendered":"<p><em>By IvyLee Rosario<\/em><\/p>\n<div id=\"attachment_1004202171\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/20-South-Clark-St.-Chicago.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004202171\" data-attachment-id=\"1004202171\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/slate-office-reit-snags-86m-chicago-asset\/20-south-clark-st-chicago\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/20-South-Clark-St.-Chicago.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"20 South Clark St., Chicago\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;20 South Clark St., Chicago&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/20-South-Clark-St.-Chicago.jpg?w=800\" class=\"wp-image-1004202171 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/20-South-Clark-St.-Chicago.jpg\" alt=\"20 South Clark St., Chicago\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/20-South-Clark-St.-Chicago.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/20-South-Clark-St.-Chicago.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/20-South-Clark-St.-Chicago.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004202171\" class=\"wp-caption-text\">20 South Clark St., Chicago<\/p><\/div>\n<p>Slate Office REIT has acquired 20 South Clark St. in downtown Chicago for $85.6 million. According to Yardi Matrix, the\u00a0previous owner was Exan Group.\u00a0The purchase is slated for completion in the first quarter of 2018 and\u00a0was bought using existing balance sheet liquidity and new debt financing.\u00a0<\/p>\n<p>The 379,903-square-foot property offers 31 stories. Originally built in 1970, the building underwent cosmetic renovations in 2006 and again in 2015. The asset is LEED Silver certified and transit-oriented, with five stations located within a quarter mile radius. Located in downtown&#8217;s Central Loop submarket, the property is 84 percent occupied with a weighted average lease term of five years.\u00a0<\/p>\n<p><em>\u201cWe are excited to acquire a high-quality well-located asset in downtown Chicago that offers such attractive returns,\u201d<\/em> said Scott Antoniak, CEO of Slate Office REIT, in prepared remarks.\u00a0<em>\u201cThe acquisition of 20 South Clark is a first step in our US expansion strategy. We believe the <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-chicago-office-buyers\/\">Chicago market<\/a> provides ample opportunity for future expansion.\u201d<\/em><\/p>\n<p><em>Image courtesy of Yardi Matrix\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company purchased 20 South Clark St., a 31-story office complex located in Chicago&#8217;s Central Loop submarket. The asset is LEED Silver certified and transit-oriented.<\/p>\n","protected":false},"author":746,"featured_media":1004202171,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,13,21742,21747],"tags":[32779],"class_list":["post-1004202160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-midwest","category-latest","category-office","tag-leed"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Slate Office REIT Snags $86M Chicago Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/slate-office-reit-snags-86m-chicago-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Slate Office REIT Snags $86M Chicago Asset\" \/>\n<meta property=\"og:description\" content=\"The company purchased 20 South Clark St., a 31-story office complex located in Chicago&#039;s Central Loop submarket. The asset is LEED Silver certified and transit-oriented.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/slate-office-reit-snags-86m-chicago-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-05T11:49:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:51:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/20-South-Clark-St.-Chicago.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/slate-office-reit-snags-86m-chicago-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/slate-office-reit-snags-86m-chicago-asset\\\/\"},\"author\":{\"name\":\"IvyLee Rosario\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f2094ece0e063845f848c7f1c7b84780\"},\"headline\":\"Slate Office REIT Snags $86M Chicago Asset\",\"datePublished\":\"2018-01-05T11:49:02+00:00\",\"dateModified\":\"2022-12-09T09:51:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/slate-office-reit-snags-86m-chicago-asset\\\/\"},\"wordCount\":180,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/slate-office-reit-snags-86m-chicago-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/20-South-Clark-St.-Chicago.jpg\",\"keywords\":[\"LEED\"],\"articleSection\":[\"Chicago\",\"Deals\",\"Midwest\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/slate-office-reit-snags-86m-chicago-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/slate-office-reit-snags-86m-chicago-asset\\\/\",\"name\":\"Slate Office REIT Snags $86M Chicago Asset - 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