MONTREAL, Oct. 29, 2013 /CNW Telbec/ - BTB Real Estate Investment Trust
(TSX: BTB.UN) ("BTB") announces that, after the conclusion of a due diligence, it has
purchased an office building and an industrial property in the City of
Longueuil, and an industrial property in the City of Sherbrooke. All
three properties are located in the province of Québec. The total
purchase price is $14 million, excluding closing costs. At closing, the
acquired properties will be fully leased to The S.M. Group Inc. by way
of long term leases. With the conclusion of this acquisition, BTB now
owns properties worth a total of approximately $520 million,
representing approximately 4.6 million square feet of leasable area.
As part of this transaction, BTB secured a first ranking mortgage loan
in the amount of $9.1 million for a term of 5 years, bearing interest
at an annual rate of 3.95%, with MCAP.
2111 Fernand-Lafontaine, Longueuil, Québec
Strategically situated in the City of Longueuil, with quick access to
Montreal through Highways 20 and 132, this office property comprises
approximately 47,830 square feet.
2350 Chemin du Lac, Longueuil, Québec
This property which is used as an environmental laboratory has a
leasable area of approximately 46,355 square feet, and is situated ten
minutes from downtown Montreal.
3705 Industriel Blvd., Sherbrooke, Québec
Located in Sherbrooke's industrial park, this laboratory and office
property has a leasable area of approximately 15,000 square feet, and
benefits from an excellent exposure with easy access to Highways 10, 55
About The S.M. Group
The S.M. Group is an engineering company specializing in construction,
restoration, and infrastructure management with more than 1,600
professionals and specialists working in more than thirty countries.
Through its quality control laboratories, chemistry and microbiology
analysis, The S.M. Group offers a wide range of services in many areas,
such as environmental, agricultural, food safety and food manufacturing
processes, cosmetics and certain products in the pharmaceutical
BTB is a real estate investment trust listed on the Toronto Stock
Exchange. BTB is an important owner of properties in eastern Canada.
BTB owns 69 commercial, office and industrial properties for a total
leasable area of approximately 4.6 million square feet. The objectives
of BTB are: i) to grow its revenues from its assets to increase
distributable income and therefore fund distributions; (ii) to maximize
the value of its assets through dynamic management of its properties in
order to sustain the long-term value of its units; and (iii) to
generate cash distributions that are fiscally beneficial to
BTB offers a distribution reinvestment plan (DRIP) 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 5%.
SOURCE: BTB Real Estate Investment Trust
For 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