MONTRÉAL, Dec. 8, 2022
/CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN)
("BTB" or the "REIT") announces the sale of an office
property located at 81-83, Turgeon Street, in Sainte-Thérèse,
Québec.
This 24,925 square foot building was acquired in November 2007 and renovated in 2017. 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 investment criteria. BTB disposed of this
building for a total consideration of $4.58 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 REIT invests in industrial, off-downtown core
office and necessity-based retail properties across Canada for the benefit of their investors. As
of today, BTB owns and manages 74 properties, representing a
total leasable area of approximately 5.88 million square
feet and a total asset value that surpasses $1.12 billion.
People and their stories are at the heart of our
success.
For more detailed information, visit BTB's website at
www.btbreit.com.
SOURCE BTB Real Estate Investment Trust