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SLATE November 2 , 2021 Grocery REIT Slate Grocery REIT Reports Third Quarter 2021 Results TORONTO , ON - Slate Grocery REIT ( TSX : SGR.U ) ( TSX : SGR.UN ) ( the " REIT " ) , an owner and operator of U.S. grocery- anchored real estate , today announced its financial results and highlights for the three and nine months ended September 30 , 2021 . " Slate Grocery REIT just concluded one of its best , most consequential quarters to date , " said David Dunn , Chief Executive Officer of Slate Grocery REIT . " We achieved transformational growth , increasing the value of our portfolio by more than $ 414 million , and our team's continued exceptional operating performance drove record new leasing volumes at high spreads . These results confirm the resilient and essential nature of grocery - anchored real estate , and we are well positioned to continue growing our portfolio to create additional value for our unitholders . " • For the CEO's letter to unitholders for the quarter , please follow the link here . Highlights Exceptional operational performance further enhanced the portfolio's durability The REIT's new leasing volumes of 229,290 square feet represent a quarterly record by 18.0 % . These new deals were completed at a rental spread of 20.5 % . The REIT achieved its fifth consecutive quarter of occupancy growth , finishing the quarter at 93.5 % , an increase of 0.3 % relative to the last quarter . Excluding assets acquired during the third quarter , portfolio occupancy was 94.4 % , an increase of 1.2 % from the second quarter 2021 . о Anchor occupancy increased to 100.0 % during the third quarter . ° Same - property net operating income ( " NOI " ) for the third quarter increased by $ 0.4 million or 2.1 % over the comparative period . Including the impact of completed redevelopments , same - property NOI for the three month period ended September 30 , 2021 increased by $ 0.8 million or 3.7 % . Adjusted funds from operations ( " AFFO " ) per unit for the third quarter was $ 0.23 , an increase of $ 0.02 relative to last quarter . Achieved significant growth through record quarterly acquisition activity ° ° Acquisitions in the third quarter totaled $ 414.3 million , which increases the portfolio's scale to $ 1.9 billion of critical real estate across 13.2 million square feet . Third quarter acquisitions significantly increased the REIT's portfolio presence in the top 50 major metro markets across the United States to 65 % , at an attractive cost basis of $ 127 per square foot .