MONTRÃAL, June 17, 2022 /CNW Telbec/ – BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “REIT“) announces the acquisition of an industrial property located at 3190 F.-X. Tessier Street in Vaudreuil-Dorion, QuÃ©bec for a total consideration of 15 M$,excluding transaction costs and adjustments and the concurrent sale of property located at 2059, RenÃ©-Patenaude Street in Magog, QuÃ©bec.
3190 F.-X.- Tessier is a 67,162 square foot Class A industrial property which is fully leased to Amylior, a leader in the design, development and manufacturing of high-end motorized wheelchairs, seating and positioning systems and accessories. The MontrÃ©al based company has been in operations since 1997 and their products are distributed internationally. The production and development of their products take place in MontrÃ©al.
Located in Magog, 2059 RenÃ©-Patenaude Street was acquired in 2007. BTB disposed of the property for a total consideration of $1.8M, excluding transaction costs and adjustments. This property was part of the properties identified for disposition by BTB.
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 73 properties, representing a total leasable area of approximately 5.7M square feet and a total asset value that surpasses $1.18B.
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
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/17/c6498.html