28 Jan BTB acquires an industrial property in Ottawa
Montréal, Quebec (January 28, 2015): 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 industrial property in the city of Ottawa. The purchase price for this sale and leaseback acquisition is $12.6 million, excluding transaction fees. The lease term is 15 years. This acquisition is financed by a $8.3 million mortgage loan on a 15-year term, bearing interest at 3.58%. This transaction brings to 72 the number of properties owned by BTB.
Adjacent to the Ottawa Macdonald-Cartier International Airport, this high-bay industrial building was erected in 2005 and is offering 116,415 square feet of leasable area on a 6-acre land. It is occupied by a single tenant, the Lowe-Martin Group, one of the largest commercial printers in Canada, in operation since 1908.
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