BTB announces the filing of its preliminary prospectus


MONTREAL, Dec. 7, 2012 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB" or the "REIT") is pleased to announce that it has filed today a preliminary prospectus with respect to the issuance on a bought deal basis of 4,598,000 trust units (the "Units") at a price of $4.35 per Unit, representing gross proceeds of approximately $20.0 million, as more fully described in its December 3, 2012 press release.

BTB is also pleased to announce that it has reached an advanced stage of negotiations with respect to the acquisition of (i) a 128,000 square foot retail property in a premier neighbourhood of Dollard-des-Ormeaux, Québec, (ii) a campus style complex located in Kanata, Ontario, and (iii) a three-storey retail and office property located on the South Shore of Montréal, Québec, for an aggregate amount of approximately $62.0 million. For more information relating to these proposed acquisitions, please refer to BTB's preliminary prospectus dated December 7, 2012 available on SEDAR at on December 8, 2012.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been and will not be registered under the U.S. Securities Act of 1933 as amended and may not be offered or sold in the United States absent registration or pursuant to applicable exemption from registration.

About BTB

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB owns 62 commercial, office and industrial properties in primary and secondary markets in Canada for a total of more than 3.9 million square feet. BTB's asset value is in excess of $400M. BTB is an important owner of properties in eastern Canada.  The objectives of BTB are: (i) to generate cash distributions that are fiscally beneficial to unitholders; (ii) to grow BTB's revenues from its assets to increase distributable income and therefore fund distributions; and (iii) to optimize the value of its assets through dynamic management of its properties in order to maximize the long-term value of 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.

Forward-Looking Statements

This press release may contain forward-looking statements with respect to BTB. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of BTB could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulation and the factors described from time to time in the documents filed by BTB with the securities regulators in Canada. The cautionary statements qualify all forward-looking statements attributable to BTB and persons acting on their behalf. Unless otherwise stated or required by applicable law, all forward-looking statements speak only as of the date of this press release.


For further information:

Mr. Michel Léonard
President and Chief Executive Officer
514-286-0188 ext. 228

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