BTB REIT purchases 50% of Phase 2 of Complexe Lebourgneuf
MONTREAL, Sept. 24, 2012 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) (''BTB'') is pleased to announce that it purchased a 50% interest in a newly constructed building known as Phase 2 of Complexe Lebourgneuf, located at 815 Lebourgneuf Boulevard in Quebec City.
BTB already owned 25% of this 5 storey office building and acquired this additional 50% interest portion from Urban Intensification Fund LP. BTB now owns 75% of this building.
BTB is a real estate investment trust and its objective is to provide unitholders with stable cash distributions from investments in a quality portfolio of office, industrial, commercial and retail properties predominantly located in the province of Québec. BTB is led by an experienced management team with in-depth experience in the real estate industry and a Board of Trustees focused on governance and sound business practices.
SOURCE: BTB REAL ESTATE INVESTMENT TRUSTFor further information:
Mr. Michel Léonard
President and Chief Executive Officer
514-286-0188, ext. 228
Mr. Benoit Cyr
Vice-President and Chief Financial Officer
514-286-0188, ext. 230