MONTRÉAL, April 2, 2019 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB"), announces the sale of a retail property (condo) located at 37-Georges-Gagné Blvd. South in Delson, Québec, for total proceeds of $1,95 million. This building was adjacent to the Delson property sold earlier this year.
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. BTB now owns 65 retail, office and industrial properties for a total leasable area of more than 5.2 million square feet and an approximate market value of $815M. 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%.
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