MONTRÉAL, Aug. 15, 2019 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB") announces the sale of a retail property located at 3885 Harvey Boulevard in Jonquière, Québec, for total proceeds of $4.4 million. BTB purchased that property in March 2008.
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 August 15, 2019, BTB owns 66 retail, office and industrial properties for a total leasable area of 5.7 million square feet and an approximate market value of $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