Capital BLF inc. announces the conditional acquisition of four adjacent residential properties for $3,150,000

    MONTREAL, June 25 /CNW Telbec/ - Capital BLF inc. (TSX-V: BLF) (the
"Corporation") announces that, upon satisfactory conclusion of its due
diligence, it will proceed with the acquisition of four adjacent residential
properties located in Quebec City for a purchase price of $3,150,000,
excluding closing costs. Certain conditions with respect to the transfer of
the hypothec remain to be finalized and closing is expected in early July

    Residential Properties - 2375-2395, 2430, 2435, 2455 Alger Street and
    2453, 2465 Père-Lelièvre Blvd. in Quebec City.

    The residential complex is comprised of four buildings built in 1970 for
a total of 72 units. These adjacent buildings are located at the corner of
Alger Street and Père-Lelièvre Blvd. in the Duberger sector, borough of Les
Rivières, in the heart of Quebec City.
    "We are delighted with our first acquisition in the Quebec City area
where the market is stable and the vacancy rate low." said Mr. Claude
Blanchet, Chief Executive Officer of the Corporation.

    The TSX Venture Exchange has in no way passed upon the merits of the
    transaction and has neither approved nor disapproved the contents of this
    press release.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as
    the term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release."

For further information:

For further information: Mr. Pierre L. Martel, Chief Financial Officer
and Secretary, (514) 238-2199

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BLF Real Estate Investment Trust

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