Brandon Donnelly — Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly. — Page 761

The below press release went out this morning. It's a good news story that shows the resiliency of grocery and food logistics.

On a related note, Slate Retail REIT also recently announced that, as of April 14th, it had already collected 80% of April rents and was outperforming the industry. At that time and based on industry feedback, the REIT estimated that a number of retail strip center landlords were seeing April rent collections in the range of 40-50%.

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TORONTO and LONDON, April 23, 2020 /CNW/ -- Slate Asset Management ("Slate"), a leading alternative asset management platform with a focus on real estate, announced today the final close of its Slate European Real Estate Fund III ("Slate Europe III"). Consistent with its predecessor funds, Slate Europe III will target grocery real estate assets in Europe. The oversubscribed closed-end fund exceeded its target size of €200 million and closed at its hard-cap of €250 million.

"During this unprecedented time of market disruption, we are pleased to close Slate Europe III at its hard-cap and are thankful for the confidence investors from diverse geographies continue to place in us as Slate expands its presence across Europe," said Brady Welch, Slate's London-based Founding Partner. "We have been investing in last-mile logistics for some time and are proud to launch our third fund in the European grocery real estate space since 2016, a feat that underscores our commitment to the sector and validates the importance of last-mile solutions in the grocery real estate market."

Since December 2016, Slate has completed a total of 250 grocery property acquisitions in Europe comprising over 450,000 square meters of gross leasable space. Slate has European offices in London, Frankfurt, Dublin and Luxembourg.

About Slate Asset Management

Slate Asset Management is a leading real estate-focused alternative investment platform with over $6.5 billion in assets under management. Slate is a value-oriented manager and a significant sponsor of all of its private and publicly traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long-term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a demonstrated ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

For Further Information
Investor Relations
+1 416 644 4264
ir@slateam.com

SOURCE Slate Asset Management L.P.

Mr. and Mrs. Gehan recently completed this home for themselves in the Preston Hollow neighborhood of Dallas. Mr. Gehan is the founder of a home building company called UnionMain Homes , but this home is like nothing the company builds. The architect, Scott Specht , describes it as being "new brutalist." There's exposed and ribbed concrete walls (which alone are reported to cost ~$720,000). But the sliding planes, cantilevered roof, and expanses of glass are reminiscent of the International Style, and in particular of the Barcelona Pavilion.

At around 8,826 square feet, the house cost about $6 million to build (presumably this excludes the 1.5 acre land cost). That works out to around $680 per square feet, which once again goes to show you why " only the rich can afford this much nothing ." Minimalism is expensive. Here's an excerpt from the WSJ : "He [Mr. Gehan] was amazed by the level of detail required and the complication involved in creating a clean and simple aesthetic. That less-cluttered, simpler look will start to make its way into his production houses, he says."

Photos: Specht Architects

Koto Design, which I have written about before on the blog , has just announced both a partnership with Plant Prefab and two new home designs. Koto is based in the UK and is a designer of small and energy neutral homes and cabins. Plant Prefab is based in the US and is, according to Koto, the first prefabrication company entirely dedicated to sustainable building practices. This partnership -- called Koto LivingHomes -- now means that Koto's designs are available for delivery in the US.

The smaller of the two new designs is the Yksi House. It consists of two stacked volumes (pictured above) and is about 1,000 square feet. The ground floor has two bedrooms and the second floor houses the main living area. This allows the exposed roof areas of the lower volume to serve as outdoor spaces. You also naturally get better views from up top, which is one of the reasons why this configuration is so common across many vernaculars.

If you'd like to play around with the Yksi House in 3D (directly in your browser), you can do that over here . It's a wonderfully simple design. I know that the building industry has been talking about and experimenting with prefabrication for many generations (and it has never stuck), but I can't help but think that as beautiful products like these become far more accessible and affordable, we might finally make it happen.

Image: Koto Design