Business
BTB Announces the Sale of a Retail Property Located in Brossard, Québec
BTB Announces the Sale of a Retail Property Located in Brossard, Québec Ca...
About this update from Btb Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n BTB Announces the Sale of a Retail Property Located in Brossard, Québec\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n MONTRÉAL,\n \n Dec. 21, 2021\n \n /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) (\"\n \n BTB\n \n \" or the \"\n \n REIT\n \n \") announces the sale of a retail property located at 2340 Lapinière in\n \n Brossard\n \n , Québec.\n \n \n Located on the South Shore of Montréal, the property was acquired by BTB in\n \n October 2007\n \n for a total consideration of\n \n \n $3.5 million\n \n \n , excluding transaction costs. As of Q3 2021, the occupancy rate of the property, stood at\n \n 51%\n \n . BTB disposed of the property for a total consideration of\n \n $4.45\n \n \n million\n \n , excluding transaction costs.\n \n \n \n \n \n \n \n \n \n \n ABOUT BTB\n \n \n \n BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern\n \n Canada\n \n . As of\n \n December 21\n \n \n st\n \n , BTB owns\n \n \n 65\n \n retail, office, and industrial properties for a total leasable area of approximately\n \n \n 5.8\n \n \n million\n \n sq. ft. Considering the acquisitions announced during the fourth quarter of 2021, BTB's total asset value surpasses\n \n \n $1 billion\n \n \n .\n \n \n \n \n \n \n BTB'S OBJECTIVES\n \n \n \n \n Generate stable monthly cash distributions that are reliable and fiscally beneficial to unitholders;\n \n \n Grow the Trust's assets through internal growth and accretive acquisitions in order to increase distributable income and therefore refund distributions;\n \n \n Optimize the value of its assets through the dynamic management of its properties in order to maximize the long-term value of its properties and therefore, its units.\n \n \n \n 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 ...