Abu Dhabi Investment Authority (Adia) has backed the acquisition of Canada’s Slate Grocery REIT for $2.3 billion.
The purchase will be carried out by New York Stock Exchange-listed shopping centre operator Brixmor Property Group and Everview Partners, a US-based private investment management company.
A wholly owned subsidiary of Adia will act as a strategic investor, Brixmor said in a statement, though the name of the subsidiary and the size of its investment were not disclosed.
Under the deal, Brixmor will acquire a portfolio of 23 grocery-anchored shopping centres for $636 million, while a newly formed joint venture between Brixmor and Everview affiliates will buy the remaining 92 assets for $1.7 billion.
The transaction, which is not subject to any financing conditions, is expected to close in the first quarter of 2027. The boards of Brixmor and Slate Grocery REIT have approved the deal.
The UAE’s Adia is the world’s third-largest sovereign wealth fund, with assets under management estimated at $1.1 trillion, according to Global SWF.