MONTRÉAL, June 25, 2019 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB" or the "Trust") is pleased to announce the acquisition of two properties located on the South Shore of Montréal, Québec. This $62.6 million transaction, excluding transaction fees, brings to 67 the number of properties owned by the Trust and its rentable area to 5.7 million square feet. The total market value of BTB's portfolio, including this transaction, is close to 900 million $.
1465-1495 and 1011- 1191 Saint-Bruno Boulevard and 800 de l'Étang Street, Saint-Bruno-de-Montarville, Québec
With a total leasable area of more than 310,000 square feet, this property known as "Méga Centre Mont Saint-Bruno'' houses well-known retailers such as Walmart, Cinéplex, L'Aubainerie and Bureau en Gros.
340-360, 370-380, 375 and 377-383 Sir-Wilfrid-Laurier Boulevard at Mont-Saint-Hilaire, Québec
With a total leasable area of approximately 128,000 square feet, these mixed-use office and retail properties known as "Développements Mont Saint-Hilaire'' are home to important tenants such as the engineering firm BBA Inc. and iA Financial Group.
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 June 25, 2019, BTB owns 67 commercial, office and industrial properties for a total leasable area of approximately 5.7 million square feet and an approximate market value of close to $900M. 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