BLF to suspend the monthly distribution and announces the resignation of Pierre Laflamme from the Board of Trustees
BROSSARD, QC, March 3, 2014 /CNW Telbec/ - BLF Real Estate Investment Trust ("BLF") (TSXV: BLF.UN) suspends the monthly distribution starting on March 30, 2014 as current free cash flow cannot sustain the distribution and to preserve available cash flow for accretive repositioning of our current assets. The last distribution will be paid on March 17th 2014 as announced previously. The management will monitor the working capital on an ongoing basis.
Furthermore, BLF received, for personal reasons, the resignation of Mr. Pierre Laflamme as a Trustee on February 28, 2014. All trustees and BLF management team would like to thank Mr. Laflamme for his valuable contribution.
About BLF REIT
The principal business of BLF REIT is acquiring, holding, developing, maintaining, improving, leasing, managing or otherwise dealing with income-producing multi-units residential properties located throughout Québec. BLF REIT currently owns seven properties located in Greater Montréal, Sherbrooke and Québec City, totaling 1,049 apartment units.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE BLF Real Estate Investment TrustFor further information:
Mr. Daniel Blanchette
Chief Financial Officer - BLF REIT
T (450) 766-2476