• Sign up for the Daily Digest Email!
  • Twitter
  • Facebook
  • Google Plus One
  • RSS

REIT REPORT

REIT news, Real Estate Investment Trusts, Canadian REIT News, REIT Stocks Canada

  • Home
  • Headlines
  • Daily Digest Email
  • Canadian REITs

BTB announces the acquisition of a 25 % interest in Complexe Lebourgneuf Phase II

June 6, 2018 By NewsWire Tagged With: TSX:BTB.UN

MONTREAL, June 6, 2018 /CNW Telbec/ – BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “REIT“) announces today that on June 4, 2018 it proceeded with the acquisition of the 25% equity balance in Complexe Lebourgneuf Phase II situated at 815 Lebourgneuf Boulevard in the City of Québec City, which it did not own for $7.5 million, including assumed indebtedness, which represents an implied capitalization rate of 6.75%. The REIT has satisfied the purchase price through the issuance of 532,265 limited partnership units to the seller at a price of $4.68 per unit. Each limited partnership unit shall be, exchangeable for the same number of BTB units.

About BTB

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is a significant property owner in eastern Canada. BTB owns 71 retail, office and industrial properties for a leasable area totaling in excess of 5.4 million square feet. BTB’s asset value is approximately $763 million. BTB’s objectives are: (i) to grow its revenues from its assets to increase distributable income and therefore fund distributions; (ii) to maximize the value of its assets through dynamic management of its properties in order to sustain the long-term value of its units; and (iii) to generate cash distributions that are fiscally beneficial to unitholders.

BTB offers a distribution reinvestment plan to unitholders whereby the participants may elect to have their monthly cash distributions reinvested in additional units of BTB at a price based on the weighted average price for BTB’s Units on the Toronto Stock Exchange during the five trading days immediately preceding the distribution date, discounted by 3%.

 

SOURCE BTB Real Estate Investment Trust

View original content: http://www.newswire.ca/en/releases/archive/June2018/06/c6501.html

Sign up for the Daily Digest Email!

Receive the latest news stories from the REIT Report every morning for FREE!

100% Privacy. No SPAM. We promise.

Daily Movers

Ticker News Price Chg Chg%
d.un:ca$14.92.7118.16%
csh.un:ca$9.340.545.78%
ax.un:ca$6.920.223.13%
kmp.un:ca$17.730.623.5%
nwh.un:ca$8.020.222.69%
mrt.un:ca$5.24-0.01-0.19%
grt.un:ca$81.72-0.11-0.13%
hot.un:ca$2.53-0.01-0.39%
fcr.un:ca$15.35-0.05-0.32%
dir.un:ca$14.22-0.41-2.87%
 

Market Snapshot

  • Advertise
  • About
  • Contact
  • Privacy Policy

Copyright © 2025 · REIT REPORT