MONTRÉAL, May 13, 2019 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB" or the "Trust") is pleased to announce the acquisition of an industrial property located at 2425 Pitfield Boulevard in Saint-Laurent, Québec.
With a total leasable area of more than 65,000 square feet, this $11,9 million acquisition, excluding transaction fees, is long term leased by SC360, a Canadian leader that offers complete voice and data network infrastructure build and maintenance solutions.
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. As at May 13, 2019, BTB owns 65 commercial, office and industrial properties for a total leasable area of approximately 5.3 million square feet and an approximate market value of more than $830M. 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 3%.
For more information, visit BTB's website at www.btbreit.com.
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