MONTRÉAL, Sept. 8,
2022 /CNW Telbec/ - BTB Real Estate Investment Trust
(TSX: BTB.UN) ("BTB" or the "REIT") announces the
acquisition of an industrial property located at 8743 50 Avenue NW
in Edmonton, Alberta for a total
consideration of 15.75M$, excluding transaction costs
and adjustments.
About the Acquisition
Built in 1998, this 72,088 square foot industrial property is
located in the heart of the McIntyre Industrial Park and is fully
leased to the Redco Equipment Sales group, one of the major players
in the wellhead completion tools sector in the Canadian market of
fossil energies. Over the past twenty years, Redco has experienced
unparalleled growth, continually picking up market share and
diversifying with new product offerings and strategic acquisitions
of proprietary technologies. The company now has more than 250
employees, and its operations extend across Western Canada, from British Columbia to Saskatchewan.
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 76 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.
SOURCE BTB Real Estate Investment Trust