BTB – Successful debt reduction impacts performance ratios

Montréal, Québec (March 14, 2017): BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “Trust”) releases today its financial results for the fourth quarter and year ended December 31, 2016, and announces the following highlights:

 

HIGHLIGHTS OF THE YEAR ENDED DECEMBER 31, 2016

 

Slight increase

  • In rental income, net operating income(1), recurring distributable income(1), recurring funds from operations (FFO)(1), recurring adjusted funds from operations (AFFO) (1) and total assets.
  • Non-IFRS financial measures

Slight decrease

  • In net income of the same-property portfolio.

Reduction

  • In the total debt ratio and the average interest rate on mortgage debt.

Leasing activities

  • More than 520,000 square feet of leases renewed and new leases signed during the year.
  • 6% increase in the average rental rate of renewed leases during the year.

Financing activities

  • $9.9 million in financings, with an average term of 4.2 years and an average rate of 3.59%.
  • $87.2 million in refinancings, with terms varying from 1 year to 10 years, for a weighted average term of 7.5 years, as well as fixed rates of 2.88% to 4.11% and a weighted average rate of 3.50%. These refinancings allowed for an equity take-out of approximately $16 million.

Summary of significant items as at December 31, 2016

  • 72 properties
  • More than 5.1 million leasable square feet
  • $658 million in assets
  • $189 million in market capitalization

“The significant event of 2016 was the successful public share offering in June 2016 where we raised over $33 million.  It has allowed us to redeem before maturity the Series D debenture maturing on July 31, 2018. The redemption was not accretive to BTB and it reduced our payout ratios per unit by $0.012 per quarter since the redemption. We certainly believe it was the right course of action since this transaction allowed us to reduce our total debt ratio by 4%. Management believes that the long-term benefits of the reduction in the debt rate are greater than the short term consequences of the reduction of the different ratios per unit and distribution ratios”, declared Michel Léonard, President and Chief Executive Officer.

 

ANNUAL RESULT INFORMATION

 

(in thousands of Canadian dollars, except for ratios and per unit data) 2016 2015 % Variation
$ $
Financial information  
Rental income 73,384 72,892 0.7
Net operating income(1) 41,339 41,294 0.1
Net income and comprehensive income 22,085 8,669 154.8
Net property income from the same-property portfolio(1) 23,236 24,060 (3.4)
Recurring distributable income(1) 19,711 18,733 5.2
Distributions 16,444 14,478 13.6
Recurring funds from operations (FFO)(1) 17,710 16,333 8.4
Recurring adjusted funds from operations (AFFO)(1) 17,391 17,165 1.3
Total assets 658,462 633,082 4.0
Total debt ratio 65.7% 71.0% (7.5)
Weighted average interest rate on mortgage debt 3.79% 3.95% (4.1)
Market capitalization 189,270 153,050 23.7
Financial information per unit  
Net income and comprehensive income 57.3¢ 25.2¢ 127.4
Recurring distributable income(1) 51.1¢ 54.4¢ (6.1)
Distributions 42.0¢ 42.0 ¢
Recurring payout ratio on distributable income(1) 83.4% 77.3% 7.9
Recurring FFO(1) 45.9¢ 49.8¢ (7.8)
Recurring AFFO(1) 45.1¢ 47.2¢ (4.4)

(1)    Non-IFRS financial measures

 

QUARTERLY RESULT INFORMATION

 

(in thousands of Canadian dollars, except for ratios and per unit data) 2016 2015 % Variation
$ $
Financial information  
Rental income 18,270 18,539 (1.5)
Net operating income(1) 10,121 10,020 1.0
Net income (loss) and comprehensive income 9,130 (2,124) n/a
Net property income from the same-property portfolio(1) 5,498 5,566 (1.2)
Recurring distributable income(1) 5,047 4,211 19.9
Distributions 4,442 3,640 22.0
Recurring funds from operations (FFO) (1) 4,808 3,710 29.6
Recurring adjusted funds from operations (AFFO)(1) 4,485 3,588 25.0
Financial information per unit  
Net income (loss) 21,6¢ (6.1¢) n/a
Recurring distributable income(1) 11.9¢ 12.2¢ (2.5)
Distributions 10,5¢ 10.5¢
Recurring FFO(1) 11,4¢ 10.7¢ 6.5
Recurring AFFO(1) 10.6¢ 10.4¢ 1.9

(1)    Non-IFRS financial measures


 

NON-IFRS FINANCIAL MEASURES

 

Net operating income, net operating income of the same-property portfolio, recurring distributable income, recurring funds from operations and recurring adjusted funds from operations are not measures recognized by International Financial Reporting Standards (“IFRS”) and do not have standardized meanings prescribed by IFRS. Such measures may differ from similar computations as reported by similar entities and, accordingly, may not be comparable to similar measures reported by such other entities.

The following table shows the reconciliation of distributable income and adjusted funds from operations (non-IFRS measure) with cash flows from operating activities presented in the financial statements.

  Quarter Year
Periods ended December 31 (in thousands of Canadian dollars) 2016 2015 2016 2015
$ $ $ $
Cash flows from operating activities (IFRS) 13,250 12,157 39,850 38,238
+ Financial revenues 27 19 95 52
± Net change in non-cash operating items (3,538) (2,615) (322) 624
–  Interest expense on mortgage loans payable (3,658) (3,688) (14,582) (14,360)
–  Interest expense on convertible debentures (874) (1,412) (4,471) (5,228)
–  Interest expense on acquisition line of credit (94) (212) (519) (675)
–  Interest expense on operating line of credit and other interest expenses (34) (38) (128) (125)
–  Early repayment fees (625)
Distributable income 5,079 4,211 19,923 17,901
+ Leasing payroll expenses 123 422
–  Provision for non-recoverable capital expenses (365) (371) (1,462) (1,456)
–  Provision for rental fees (320) (252) (1,280) (1,017)
Adjusted funds from operations 4,517 3,588 17,603 15,428

 

On Wednesday, March 15, 2017, at 10:00 a.m. (ET) management will hold a conference call to present BTB’s financial results and performance for the fourth quarter 2016 and for the fiscal year ended on December 31, 2016:

 

DATE:                            Wednesday, March 15, 2017

 

TIME:                            10:00 a.m. (Eastern Standard Time)

 

DIAL:                             1-647-427-7450 (from Toronto and overseas) access code 57907159# 1‑888‑231-8191 (from North America) toll free, access code 57907159#.  To ensure your participation, please dial in fifteen minutes prior to the start of the conference call.

 

WEBCAST:                    http://event.on24.com/r.htm?e=1353083&s=1&k=751C8B29649D71ABA73F8A705110AA87

REPLAY:                        From Wednesday, March 15, 2017, 1:00 p.m. until 11:59 p.m. on March 22, 2017, dial 1‑416‑849‑0833 conference ID number 57907159#, or dial toll free 1‑855‑859-2056 conference ID number 57907159#.

 

The media and all interested parties may attend the call in listening mode only.

 

Conference call operators will coordinate the question and answer period, and will instruct participants regarding the procedures for the call.

 

About BTB

 

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. Today, BTB owns 72 commercial, office and industrial properties for a total leasable area of more than 5.1 million square feet. BTB’s asset value is $658M. The objectives of BTB 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 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%.

 

Forward-Looking Statements

 

This press release may contain forward-looking statements with respect to BTB. These statements generally can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. The actual results and performance of BTB could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulation and the factors described from time to time in the documents filed by BTB with the securities regulators in Canada. The cautionary statements qualify all forward-looking statements attributable to BTB and persons acting on their behalf. Unless otherwise stated or required by applicable law, all forward-looking statements speak only as of the date of this press release.

 

 

For further information, please contact:

 

 

Mr. Michel Léonard                                                    Mr. Benoit Cyr
President and Chief Executif Officer                       Vice-President and Chief Financial Officer
514-286-0188, ext. 228                                             514-286-0188, ext. 23

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BTB ANNOUNCES ITS DISTRIBUTION FOR THE MONTH OF MARCH 2017

Montréal, Québec (March 10, 2017): BTB Real Estate Investment Trust (TSX: BTB.UN) announced today that the monthly cash distribution for the month of March 2017 is $0.035 per unit, representing $0.42 per unit on an annualized basis. The cash distribution will be paid on April 17, 2017 to unitholders of record on March 31, 2017.

 

About BTB

 

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. Today, BTB owns 72 commercial, office and industrial properties for a total leasable area of more than 5.1 million square feet. BTB’s asset value is approximately $650M. The objectives of BTB 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 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 further information, please contact:

 

Mr. Michel Léonard                                                    Mr. Benoit Cyr
President and Chief Executif Officer                       Vice-President and Chief Financial Officer
514-286-0188, ext. 228                                             514-286-0188, ext. 230

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BTB WILL ANNOUNCE ITS 2016 FOURTH QUARTER FINANCIAL RESULTS ON TUESDAY, MARCH 14, 2017

Montréal, Québec (February 14, 2017): BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB”) announced today that it will release its financial results for the fourth quarter 2016, on Tuesday, March 14, 2017, after closing of the markets.

 

On Wednesday, March 15, 2017, at 10:00 a.m. (ET) management will hold a conference call to present BTB’s financial results and performance for the fourth quarter 2016 and for the fiscal year ended on December 31, 2016:

 

DATE:                    Wednesday, March 15, 2017

 

TIME:                      10:00 a.m. (Eastern Standard Time)

 

DIAL:                      1-647-427-7450 (from Toronto and overseas) access code 57907159# 1‑888‑231-8191 (from North America) toll free, access code 57907159#.  To ensure your participation, please dial in fifteen minutes prior to the start of the conference call.

 

WEBCAST:              http://event.on24.com/r.htm?e=1353083&s=1&k=751C8B29649D71ABA73F8A705110AA87

 

REPLAY:                From Wednesday March 15, 2017, 1:00 p.m. until 11:59 p.m. on March 22, 2017, dial 1‑416‑849‑0833 conference ID number 57907159#, or dial toll free 1‑855‑859-2056 conference ID number 57907159#.

 

The media and all interested parties may attend the call in listening mode only.

 

Conference call operators will coordinate the question and answer period, and will instruct participants regarding the procedures for the call.

 

About BTB

 

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. Today, BTB owns 72 commercial, office and industrial properties for a total leasable area of more than 5.1 million square feet. BTB’s assets value is approximately $650M. The objectives of BTB 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 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 further information, please contact:

 

 

Mr. Michel Léonard
President and Chief Executive       Officer
514-286-0188, ext. 228

 

 

Mr. Benoit Cyr
Vice-President and Chief Financial Officer
514-286-0188, ext. 230

 

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BTB ANNOUNCES ITS DISTRIBUTION FOR THE MONTH OF FEBRUARY 2017

Montréal, Québec (February 6, 2017): BTB Real Estate Investment Trust (TSX: BTB.UN) announced today that the monthly cash distribution for the month of February 2017 is $0.035 per unit, representing $0.42 per unit on an annualized basis. The cash distribution will be paid on March 15, 2017 to unitholders of record on February 28, 2017.

 

About BTB

 

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. Today, BTB owns 72 commercial, office and industrial properties for a total leasable area of more than 5.1 million square feet. BTB’s asset value is approximately $650M. The objectives of BTB 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 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 further information, please contact:

 

Mr. Michel Léonard                                                    Mr. Benoit Cyr
President and Chief Executif Officer                       Vice-President and Chief Financial Officer
514-286-0188, ext. 228                                             514-286-0188, ext. 230

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BTB ANNOUNCES ITS DISTRIBUTION FOR THE MONTH OF JANUARY 2017

Montréal, Québec (January 13, 2017): BTB Real Estate Investment Trust (TSX: BTB.UN) announced today that the monthly cash distribution for the month of January 2017 is $0.035 per unit, representing $0.42 per unit on an annualized basis. The cash distribution will be paid on February 15, 2017 to unitholders of record on January 31, 2017.

 

About BTB

 

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. Today, BTB owns 72 commercial, office and industrial properties for a total leasable area of more than 5.1 million square feet. BTB’s asset value is approximately $650M. The objectives of BTB 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 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 further information, please contact:

 

Mr. Michel Léonard
President and Chief Executive Officer
514-286-0188, ext. 228
Mr. Benoit Cyr
Vice-President and Chief Financial Officer
514-286-0188, ext. 230
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BTB ANNOUNCES ITS DISTRIBUTION FOR THE MONTH OF DECEMBER 2016

Montréal, Québec (December 15, 2016): BTB Real Estate Investment Trust (TSX: BTB.UN) announced today that the monthly cash distribution for the month of December 2016 is $0.035 per unit, representing $0.42 per unit on an annualized basis. The cash distribution will be paid on January 16, 2017 to unitholders of record on December 30, 2016.

 

About BTB

 

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. Today, BTB owns 72 commercial, office and industrial properties for a total leasable area of more than 5.1 million square feet. BTB’s asset value is approximately $650M. The objectives of BTB 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 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 further information, please contact:

Mr. Michel Léonard
President and Chief Executive Officer
514-286-0188, ext. 228
Mr. Benoit Cyr
Vice-President and Chief Financial Officer
514-286-0188, ext. 230
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BTB ANNOUNCES ITS DISTRIBUTION FOR THE MONTH OF NOVEMBER 2016

Montréal, Québec (November 15, 2016): BTB Real Estate Investment Trust (TSX: BTB.UN) announced today that the monthly cash distribution for the month of November 2016 is $0.035 per unit, representing $0.42 per unit on an annualized basis. The cash distribution will be paid on December 15, 2016 to unitholders of record on November 30, 2016.

 

About BTB

 

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. Today, BTB owns 72 commercial, office and industrial properties for a total leasable area of more than 5.1 million square feet. BTB’s asset value is approximately $650M. The objectives of BTB 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 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 further information, please contact:

Mr. Michel Léonard
President and Chief Executive Officer
514-286-0188, ext. 228
Mr. Benoit Cyr
Vice-President and Chief Financial Officer
514-286-0188, ext. 230
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BTB – THIRD QUARTER 2016 SIGNIFICANT DROP IN DEBT RATE AND SLIGHT IMPROVEMENT OF RESULTS IN A COMPETITIVE MARKET

Montréal, Québec (November 7, 2016): BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “Trust”) releases today its financial results for the third quarter ended September 30, 2016, and announces the following highlights:

 

HIGHLIGHTS OF THE THIRD QUARTER 2016

Capital activities

  • On July 19, 2016, the syndicate of underwriters partially exercised the overallotment option on the June 2016 issue and 565,342 units were issued at a unit price of $4.55 for net proceeds of approximately $2.4 million.
  • On August 2, 2016, the Trust redeemed Series D convertible debentures in the amount of $23 million, reducing the Trust’s overall debt ratio by more than 400 basis points, to 66.1% as at September 30, 2016. With the redemption of the debentures, this transaction reduced the various ratios by approximately 1.0¢ per unit per quarter, and increased the various payout ratios by approximately 9.0%.

The transaction also resulted in the write-off of unamortized financing expenses and the liability component of the convertible debentures. This non-recurring expense resulted in the write-off of an amount totalling approximately $1.1 million, which was factored into the calculation of FFO. If this write-off had not occurred, FFO and recurring FFO would be increased by 2.6¢ per unit for the quarter and the various quarterly payout ratios would have decreased by 22.5%.

Increase

  • 5% in recurring AFFO(1).

(1) Non-IFRS financial measure

Leasing activities

  • Close to 70,000 square feet of leases were renewed and new leases were signed, for a total of 250,000 square feet since the beginning of the year. 5% of leases expiring in 2016 were renewed from the beginning of the year until September 30, 2016.
  • BTB recorded a 3.71% increase in the average rental rate of expired and renewed leases for the quarter and 4.21% since the beginning of the year.

 

 

Improvement

  • In the weighted average interest rate on mortgage debt from 3.93% to 3.81%.

Financing activities

  • On July 15, 2016, the Trust’s authorized credit facilities were renewed, the operating credit facility increasing to $3million and the acquisition credit facility, to $19 million.

Summary of significant items

  • 72 properties
  • $650 million in assets
  • More than 5.1 million leasable square feet
  • $195 million in market capitalization

 

In a particularly volatile market, BTB has acted on its plan to reduce its debt rate by using the proceeds of the June 30 issuance to redeem the Series D convertible debentures. In the months ahead, management will continue to use surplus cash flows from operations or financing or capital activities to pay down its debt. The debt ratio for mortgage refinancings will also be gradually reduced in the next few years, from 65% of the market value of properties to a maximum of 60%.  We believe that in the long-term, this will reduce investor’s risk and increase unit value,” declared Michel Léonard, President and Chief Executive Officer.

Quarters ended September 30
(in thousands of dollars, except for ratios and per unit data)
2016 2015
  $ $
Financial information    
Rental income 18,264 18,421
Net operating income(1) 10,633 10,958
Net income and comprehensive income 5,422 3,669
Net property income from the same-property portfolio(1) 6,038 6,242
Recurring distributable income(1) 5,285 5,286
Distributions 4,449 3,628
Recurring funds from operations (FFO) (1) 3,994  4,969
Recurring adjusted funds from operations (AFFO)(1) 4,733 4,663
Total assets 650,820 650,005
Mortgage liability ratio 57.6  % 57.3 %
Total debt ratio 66.1 % 70.7 %
Weighted average interest rate on mortgage debt 3.81 % 3.93 %
Market capitalization 194,648 147,011
Financial information per unit    
Net income and comprehensive income 13.0 ¢ 10.6 ¢
Recurring distributable income(1) 12.7 ¢ 15.3 ¢
Distributions 10.5 ¢ 10.5 ¢
Recurring payout ratio on distributable income(1) 84.2 % 68.6 %
Recurring FFO(1) 9.6 ¢ 14.4 ¢
Recurring AFFO(1) 11.4 ¢ 13.5 ¢

(1)   Non-IFRS financial measures

 


 

NON-IFRS FINANCIAL MEASURES

Net operating income, net operating income of the same-property portfolio, recurring distributable income, recurring funds from operations and recurring adjusted funds from operations are not measures recognized by International Financial Reporting Standards (“IFRS”) and do not have standardized meanings prescribed by IFRS. Such measures may differ from similar computations as reported by similar entities and, accordingly, may not be comparable to similar measures reported by such other entities.

The following table shows the reconciliation of distributable income and adjusted funds from operations (non-IFRS measure) with cash flows from operating activities presented in the financial statements.

Quarters ended September 30

(in thousands of dollars)

2016 2015
  $ $
Cash flows from operating activities (IFRS) 10,342 9,699
+ Financial revenues 19 12
± Net change in non-cash operating items (135) 675
–  Interest expense on mortgage loans payable (3,627) (3,625)
–  Interest expense on convertible debentures (1,018) (1,271)
–  Interest expense on acquisition line of credit (77) (189)
–  Interest expense on operating line of credit and other interest expenses (39) (38)
–  Early repayment fees —  (625)
Distributable income 5,465 4,638
+ Leasing payroll expenses 129
–  Provision for non-recoverable capital expenses (361) (368)
–  Provision for rental fees (320) (255)
Adjusted funds from operations 4,913 4,015

 

On Tuesday, November 8, 2016, at 10:00 a.m. (ET) management will hold a conference call to present BTB’s financial results and performance for the third quarter ended September 30, 2016:

 

DATE:                    Tuesday, November 8, 2016

TIME:                    10:00 a.m. (Eastern Standard Time)

DIAL:                     1-647-427-7450 (from Toronto and overseas) access code 93433303#, 1‑888‑231-8191 (from North America) toll free, access code 93433303#.  To ensure your participation, please dial in fifteen minutes prior to the start of the conference call.

WEBCAST:           http://event.on24.com/r.htm?e=1281141&s=1&k=A5DB1A13F40E8705382367272D0486CA

REPLAY:               From Tuesday, November 8, 2016, 1:00 p.m. until 11:59 p.m. on November 15, 2016, dial 1‑416‑849‑0833 conference ID number 93433303#, or dial toll free 1‑855‑859-2056 conference ID number 93433303#.

 

The media and all interested parties may attend the call in listening mode only.

 

Conference call operators will coordinate the question and answer period, and will instruct participants regarding the procedures for the call.

 

 

About BTB

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. Today, BTB owns 72 commercial, office and industrial properties for a total leasable area of more than 5.1 million square feet. BTB’s asset value is $650M. The objectives of BTB 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 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%.

Forward-Looking Statements

This press release may contain forward-looking statements with respect to BTB. These statements generally can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. The actual results and performance of BTB could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulation and the factors described from time to time in the documents filed by BTB with the securities regulators in Canada. The cautionary statements qualify all forward-looking statements attributable to BTB and persons acting on their behalf. Unless otherwise stated or required by applicable law, all forward-looking statements speak only as of the date of this press release.

 

Mr. Michel Léonard
President and Chief Executive Officer
514-286-0188, ext. 228
Mr. Benoit Cyr
Vice-President and Chief Financial Officer
514-286-0188, ext. 230
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BTB WILL ANNOUNCE ITS 2016 THIRD QUARTER FINANCIAL RESULTS ON MONDAY NOVEMBER 7, 2016

Montréal, Québec (October 12, 2016): BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB”) announces that it will release its financial results for the third quarter 2016, on Monday, November 7, 2016, after closing of the markets.

 

On Tuesday, November 8, 2016, at 10:00 a.m. (ET) management will hold a conference call to present BTB’s financial results and performance for the third quarter ended September 30, 2016:

 

DATE:                             Tuesday, November 8, 2016

 

TIME:                              10:00 a.m. (Eastern Standard Time)

 

DIAL:                              1-647-427-7450 (from Toronto and overseas) access code 93433303# or 1‑888‑231-8191 (from North America) toll free, access code 93433303#.  To ensure your participation, please dial in fifteen minutes prior to the start of the conference call.

 

WEBCAST:                     http://event.on24.com/r.htm?e=1281141&s=1&k=A5DB1A13F40E8705382367272D0486CA

REPLAY:                         From Tuesday November 8, 2016, 1:00 p.m. until 11:59 p.m. on November 15, 2016, dial 1‑416‑849‑0833 conference ID number 93433303#, or dial toll free 1‑855‑859-2056 conference ID number 93433303#.

 

The media and all interested parties may attend the call in listening mode only.

 

Conference call operators will coordinate the question and answer period, and will instruct participants regarding the procedures for the call.

 

About BTB

 

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. Today, BTB owns 72 commercial, office and industrial properties for a total leasable area of more than 5.1 million square feet. BTB’s asset value is approximately $665M. The objectives of BTB 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 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 further information, please contact:

 

Mr. Michel Léonard
President and Chief Executive Officer
514-286-0188, ext. 228
Mr. Benoit Cyr
Vice-President and Chief Financial Officer
514-286-0188, ext. 230
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BTB ANNOUNCES ITS DISTRIBUTION FOR THE MONTH OF OCTOBER 2016

Montréal, Québec (October 11, 2016): BTB Real Estate Investment Trust (TSX: BTB.UN) announced today that the monthly cash distribution for the month of October 2016 is $0.035 per unit, representing $0.42 per unit on an annualized basis. The cash distribution will be paid on November 15, 2016 to unitholders of record on October 31, 2016.
 
About BTB
 
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. Today, BTB owns 72 commercial, office and industrial properties for a total leasable area of more than 5.1 million square feet. BTB’s asset value is approximately $665M. The objectives of BTB 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 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 further information, please contact:

Mr. Michel Léonard
President and Chief Executive Officer
514-286-0188, ext. 228
Mr. Benoit Cyr
Vice-President and Chief Financial Officer
514-286-0188, ext. 230
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