MONTRÉAL, Dec. 12, 2013 /CNW Telbec/ - BTB Real Estate Investment Trust
(TSX: BTB.UN) ("BTB"or the "REIT") is announcing that it has purchased an additional 50% participation
in a retail complex located in Saint-Lazare, Québec, for the purchase
price of $2.5 million, excluding closing costs.
2665, 2673 and 2681 Côte Saint-Charles, Saint-Lazare, Québec
BTB already owns 50% of this retail complex and acquired the remaining
50% interest. Consequently, the REIT now owns 100% of this retail
complex. Some of the tenants include Sobeys, Tim Hortons and A&W.
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. BTB's asset
value is in excess of $530M. 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 unitholders.
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 5%.
SOURCE: BTB Real Estate Investment Trust
For further information:
Mr. Michel Léonard
President and Chief Executive Officer
514-286-0188 ext. 228