Property Search
 

BTB REIT Announces the Sale of a Retail and Office Property Located on the Island of Montreal, Quebec

BTB REIT Announces the Sale of a Retail and Office Property Located on the Island of Montreal, Quebec

Montréal (Québec) September 19th, 2022: BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “REIT”) announces the sale of a retail and office property located at 5878-5882, Sherbrooke Street East, in Montreal, Quebec.

This 10,773 square foot building was acquired in July 2007. During the strategic repositioning of BTB’s portfolio, this property was identified as a potential disposition since that the property did not meet the REIT’s asset detention criteria. BTB therefore disposed of this building for a total consideration of $4.4 million, excluding transaction costs. The net proceeds of disposal will be reinvested in acquisitions of industrial properties.

About 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 75 properties, representing a total leasable area of approximately 5.9M square feet and a total asset value that surpasses $1.2B.

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

Philippine Soulié, Director of Communications

514-286-0188 x236

psoulie@btbreit.com