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BTB REIT Announces the Acquisition of an Industrial Property Located in Ottawa, Ontario

BTB REIT Announces the Acquisition of an Industrial Property Located in Ottawa, Ontario

Montréal (Québec) April 5th, 2022: BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB”, the “REIT” or the “Trust”) announces the acquisition of an industrial property located at 1100 Algoma Road in Ottawa, Ontario.

About the acquisition

Acquired for the purchase price of $12.5M[1], Algoma Road is 100% leased to Ontario Medical Supply, a subsidiary of Medical Pharmacies Group. Medical Pharmacies Group Limited operates 25 pharmacies located in medical buildings in Ontario. They are the Ontarian leaders in long-term care, including nursing services and retirement communities.

Built in 2007, the property houses 46,400 square feet of leasable area and is well located Saint-Laurent industrial park. The property is strategically located near Cyrville LRT station, thus facilitating access via public transit.

About BTB

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is a property owner active in eastern and western Canada and considering this acquisition, owns 74 properties, representing a total leasable area of approximately 5.7 million square feet and a total asset value that surpasses $1.1 billion.

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
(T) 514-286-0188 x256
(C) sleonard@btbreit.com

 

[1] Excluding transaction costs and adjustments.