MONTRÃAL, Dec. 14, 2022 /CNW Telbec/ – BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “REIT“) announces the sale of an office property located at 7001-7035, Saint-Laurent boulevard in the heart of Little Italy in Montréal, Québec.
This 25,322 square foot building was acquired in September 2007. During the strategic repositioning of BTB’s portfolio, this property was identified as a potential disposition since that the property did not meet the REIT’s investment criteria. BTB disposed of this building for a total consideration of $5.9 million, excluding transaction costs. The net proceeds of disposal will be reinvested in acquisitions of industrial properties.
About BTB
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB REIT invests in industrial, off-downtown core office and necessity-based retail properties across Canada for the benefit of their investors. As of today, BTB owns and manages 73 properties, representing a total leasable area of approximately 5.86 million square feet and a total asset value that surpasses $1.11 billion.
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For more detailed information, visit BTB’s website at www.btbreit.com.
SOURCE BTB Real Estate Investment Trust
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