MONTRÃAL, June 29, 2021 /CNW Telbec/ – BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “REIT“) announces the acquisition of an industrial property located at 6000 Kieran Street in MontrÃ©al, QuÃ©bec.
Acquired for the price of $15.25 million (excluding transaction costs) and with a total leasable area of 99,000 square feet, the property is entirely leased to Kore Outdoor Inc., a global leader in the manufacturing of high-quality paintball products, ranging from paintballs and gear, marketed to all levels of play, from entry-level to competitive market segments.
Kore Outdoor Inc is a conglomeration of some of the most prominent brands in the paintball industry, spread over eleven locations, in four countries. Producing billions of paintballs annually, they are famously known for their popular brands such as: Tippmann, Empire, Spyder, Vforce, JT and G.I. Sportz, to name a few. Located in MontrÃ©al, Kore is the largest manufacturer of paintballs in the world.
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. As at June 29th, 2021 BTB owns 65 retail, office, and industrial properties for a total leasable area of approximately 5.4 million square feet. As of March 31st, 2021, BTB’s approximate total asset value is approximately $924M.
- 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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