MONTRÃAL, Dec. 21, 2021 /CNW Telbec/ – BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “REIT“) announces the sale of a retail property located at 2340 LapiniÃ¨re in Brossard, QuÃ©bec.
Located on the South Shore of MontrÃ©al, the property was acquired by BTB in October 2007 for a total consideration of $3.5 million, excluding transaction costs. As of Q3 2021, the occupancy rate of the property, stood at 51%. BTB disposed of the property for a total consideration of $4.45 million, excluding transaction costs.
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. As of December 21st, BTB owns
65 retail, office, and industrial properties for a total leasable area of approximately
5.8 million sq. ft. Considering the acquisitions announced during the fourth quarter of 2021, BTB’s total asset value surpasses $1 billion.
- Generate stable monthly cash distributions that are reliable and fiscally beneficial to unitholders;
- Grow the Trust’s assets through internal growth and accretive acquisitions in order to increase distributable income and therefore refund distributions;
- Optimize the value of its assets through the dynamic management of its properties in order to maximize the long-term value of its properties and therefore, its units.
BTB offers a distribution reinvestment plan to unitholders whereby the participants may elect to have their monthly cash distribution reinvested in additional units of BTB at a price based on the weighted average price for BTB’s Units on the Toronto Stock Exchange for the five trading days immediately preceding the distribution date, discounted by 3%.
For more detailed information, visit BTB’s website at www.btbreit.com.
SOURCE BTB Real Estate Investment Trust
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