Canada NewsWire
MONTRÉAL, Dec. 21, 2021 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) (" BTB " or the " REIT ") announces the sale of a retail property located at 2340 Lapinière in Brossard , Québec.
Located on the South Shore of Montréal, the property was acquired by BTB in October 2007 for a total consideration of $3.5 million , excluding transaction costs. As of Q3 2021, the occupancy rate of the property, stood at 51% . BTB disposed of the property for a total consideration of $4.45 million , excluding transaction costs.
ABOUT BTB
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern
Canada
. As of
December 21
st
, BTB owns
65
retail, office, and industrial properties for a total leasable area of approximately
5.8
million
sq. ft. Considering the acquisitions announced during the fourth quarter of 2021, BTB's total asset value surpasses
$1 billion
.
BTB'S OBJECTIVES
- Generate stable monthly cash distributions that are reliable and fiscally beneficial to unitholders;
- Grow the Trust's assets through internal growth and accretive acquisitions in order to increase distributable income and therefore refund distributions;
- 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.
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
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