16 Feb BTB Acquires a property in Montreal
Montréal, Québec (February 15, 2016): BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “Trust”) is proud to announce, following the conclusion of a due diligence process, the purchase of an office building in downtown Montréal. This $11 million transaction, excluding transaction fees, now brings to 72 the number of properties owned by BTB. This acquisition is in line with BTB’s strategic review where it is selling smaller properties while purchasing larger properties with better financial performance.
2101 Ste-Catherine West, Montréal, Québec
With a total leasable area of over 52,500 square feet, this fully renovated office building is entirely leased to Technicolor Canada Inc. For more than 100 years in the Media & Entertainment industry, Technicolor is considered the world leader in technology solutions for that industry and the fifth largest group in terms of licensing revenue.
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