MONTRÃAL, Sept. 8, 2022 /CNW Telbec/ – BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “REIT“) announces the acquisition of an industrial property located at 8743 50 Avenue NW in Edmonton, Alberta for a total consideration of 15.75M$, excluding transaction costs and adjustments.
Built in 1998, this 72,088 square foot industrial property is located in the heart of the McIntyre Industrial Park and is fully leased to the Redco Equipment Sales group, one of the major players in the wellhead completion tools sector in the Canadian market of fossil energies. Over the past twenty years, Redco has experienced unparalleled growth, continually picking up market share and diversifying with new product offerings and strategic acquisitions of proprietary technologies. The company now has more than 250 employees, and its operations extend across Western Canada, from British Columbia to Saskatchewan.
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is a property owner active in Canada and considering these transactions, it owns 76 properties, representing a total leasable area of approximately 5.9M square feet and a total asset value that surpasses $1.2B.
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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