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BTB announces the sale of a property in Longueuil

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BTB announces the sale of a property in Longueuil

Canada NewsWire

MONTRÉAL, Aug. 16, 2018 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB"), further to the conclusions of its strategic review of its portfolio, announces the sale of a property located at 3036-3094 Chemin Chambly, Longueuil, in the province of Québec, for total proceeds of $5.65 million.  The net proceeds will be allocated to repay the outstanding lines of credit.

About BTB

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 71 retail, office and industrial properties for a total leasable area of approximately 5.6 million square feet. BTB's asset value is approximately $830 million. 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

View original content: http://www.newswire.ca/en/releases/archive/August2018/16/c6801.html

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