03 Mar BTB announces the disposition of a property located in Montréal, Québec
Montréal (Québec) March 3rd, 2020: BTB Real Estate Investment Trust (TSX : BTB.UN) (« BTB ») announces the dispositon of an industrial property located at 5600 chemin de la Côte-de-Liesse in Montréal (Québec).
Located in the heart of the industrial sector of the Town of Mount-Royal, BTB acquired the Property for the price of $ 7.55 million, excluding transaction costs, in December of 2011. With a total leasable area of 75,000 square feet and fully leased to Groupe Marcelle Inc. (Lise Watier), the Property was sold for a total consideration of $ 9.250 million, excluding transaction costs.
BTB AS AT MARCH 3rd, 2020
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada and as at March 3rd, 2020, BTB owns 65 retail, office and industrial properties for a total leasable area of approximately 5.4 million square feet and an approximate total asset value of approximately of $900M.
(i) Generate stable monthly cash distributions that are reliable and fiscally beneficial to unitholders;
(ii) Grow the Trust’s assets through internal growth and accretive acquisitions in order to increase distributable income and therefore refund distributions;
(iii) Optimize the value of its assets through the dynamic management of its properties in order to maximize the long-term value of its properties and therefore, its units.
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.
FOR FURTHER QUESTIONS:
Mr. Michel Léonard, President and Chief Executive Officer
Mr. Benoit Cyr, Vice-President and Chief Financial Officer