BTB Real Estate Investment Trust T.BTB.DB.G

BTB REIT Announces the Acquisition of an Industrial Property

[hawk35]

Whats great about this acquisition is that the seller of the property accepted 550,000 units valued at $4.50 each.  Considering the current share price is $3.17, this suggests the seller has a lot of confidence in BTB's future.

BTB REIT Announces the Acquisition of an Industrial Property located in the McIntyre Industrial Park in Edmonton, Alberta

MONTRAL, May 3, 2023 /CNW/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB " or the " REIT") announces the acquisition of an industrial property located at 8810 48 Avenue NW, in Edmonton, Alberta.

The purchase price for this property totals 7.35 million dollars, excluding transaction fees and adjustments. To conclude this acquisition, BTB will issue 550,000 units to the seller at a price of $4.50 per unit and the balance of the purchase price will be funded via a mortgage in the property.

[SNAKEYBOY]

Or they could have accepted the shares with the intention of selling in thus realizing 70% of the value that BTB wouldnt pay in cash, only shares, if they got a good price for it.   Also why pay a distribution on 550k shares, thats 8%, is it better than the cap rate? I dont know how great the deal is but if it improves AFFO/share it might be ok

[canadian]

Dude they issued shares at 4.5 almost 40% premium