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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 Mont...
About this update from Btb Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n BTB REIT Announces the Sale of a Retail and Office Property Located on the Island of Montreal, Quebec\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 \n MONTRÉAL\n \n ,\n \n \n Sept. 19, 2022\n \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 and office property located at 5878-5882, Sherbrooke Street East, in\n \n Montreal, Quebec\n \n .\n \n \n This 10,773 square foot building was acquired in\n \n July 2007\n \n . 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\n \n \n $4.4 million\n \n \n , excluding transaction costs. The net proceeds of disposal will be reinvested in acquisitions of industrial properties.\n \n \n \n \n \n \n \n \n \n About BTB\n \n \n BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is a property owner active in\n \n Canada\n \n and considering these transactions, it owns\n \n 75 properties\n \n , representing a total leasable area of approximately\n \n \n 5.9M\n \n \n square feet and a total asset value that surpasses\n \n \n $1.2B\n \n \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 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\n \n www.btbreit.com\n \n .\n \n \n \n \n \n \n \n \n \n SOURCE BTB Real Estate Investment Trust\n \n \n \n \n \n \n View original content to download multimedia:\n \n http://www.newswire.ca/en/releases/archive/September2022/19/c1057.html\n \n \n \n \n\n","length":4981,"tagName":"div"}]