17 Jun BTB REIT Announces the Acquisition of an Industrial Property in Montréal and the Sale of a Property Located in Magog, Québec
Montréal (Québec) June 17th, 2022: BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “REIT”) announces the acquisition of an industrial property located at
3190 F.-X. Tessier Street in Vaudreuil-Dorion, Québec for a total consideration of 15 M$, excluding transaction costs and adjustments and the concurrent sale of property located at 2059, René-Patenaude Street in Magog, Québec.
About the Acquisition
3190 F.-X.- Tessier is a 67,162 square foot Class A industrial property which is fully leased to Amylior, a leader in the design, development and manufacturing of high-end motorized wheelchairs, seating and positioning systems and accessories. The Montréal based company has been in operations since 1997 and their products are distributed internationally. The production and development of their products take place in Montréal.
About the Disposition
Located in Magog, 2059 René-Patenaude Street was acquired in 2007. BTB disposed of the property for a total consideration of $1.8M, excluding transaction costs and adjustments. This property was part of the properties identified for disposition by BTB.
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is a property owner active in Canada and considering these transactions, it owns 73 properties, representing a total leasable area of approximately 5.7M square feet and a total asset value that surpasses $1.18B.
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 Information
Stéphanie Léonard, Director of Communications