19 Feb BTB purchases a 50% participation in a retail complex property
Montreal, Québec (February 19, 2013): BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “REIT”) is proud to announce that, after the conclusion of the due diligence process, it has now purchased a 50% participation in a retail complex in Saint-Lazare, Québec, for the purchase price of $2.5 million excluding closing costs. With the conclusion of this acquisition, BTB has now closed approximately $500 million worth of properties representing over 4.3 million square feet of leasable area.
2265, 2665, 2673 and 2681 Côte Saint-Charles, Saint-Lazare, Québec
BTB acquired a 50% participation in this multi-tenant retail complex, built in 2011, that has a total leasable area of 15,186 square feet. Situated at 2265, 2665, 2673 and 2681 Côte Saint-Charles in Saint-Lazare, Québec, BTB acquired its participation for a total purchase price of $2.5 million, including the mortgage financing already in place. The retail complex harbours a Tim Hortons, an A&W, and a convenience store part that is part of the Sobeys food chain.
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