MONTRÉAL, Sept. 19,
2022 /CNW Telbec/ - 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.
SOURCE BTB Real Estate Investment Trust