MONTREAL, Oct. 15, 2012 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ('BTB' or the 'REIT') is pleased to announce that, after the conclusion of the due diligence process, it has now closed the acquisition of an office building in Ottawa, Ontario, for a total purchase price of $6.6 million excluding closing costs. With the conclusion of this acquisition, BTB has now closed over $381 million worth of properties representing over 3.6 million square feet of leasable area.
245 Stafford Road W., Ottawa, Ontario
This office building is situated in Ottawa West at the corner of Moodie Drive and Stafford Road. The property has a total leasable area of 31,463 square feet and 80,000 square feet of land. The building is fully-leased and occupied by multiple tenants among which the Toronto-Dominion Bank and LCBO.
BTB is a real estate investment trust and its objective is to provide unitholders with stable cash distributions from investments in a quality portfolio of office, industrial, commercial and retail properties predominantly located in the province of Québec. BTB is led by an experienced management team with in-depth experience in the real estate industry and a Board of Trustees focused on governance and sound business practices.
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