MONTRÉAL, Jan. 6, 2022 /CNW Telbec/ - As previously announced on December 22nd, 2021 BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB" or the "REIT"), has concluded the acquisition of 9 high-quality industrial properties and 1 office property located in Edmonton, Alberta and in Saskatoon, Saskatchewan for an aggregate purchase price of $94 millionexcluding transaction costs (the "Acquisition"). This Acquisition further increases BTB's exposure to the industrial sector whilst also enabling the REIT to broaden its geographic presence within Canada, in a disciplined manner.
For more information regarding the Acquisition, please consult the press release published on December 22nd, 2021.
ABOUT BTB
BTB is a real estate investment trust listed on the Toronto Stock Exchange and is a property owner in eastern and western Canada and owns 71 properties totaling approximately 5.6million square feet representing a total asset value of approximately $1.1 billion.
BTB'S OBJECTIVES
- Generate stable monthly cash distributions that are reliable and fiscally beneficial to unitholders;
- Grow the Trust's assets through internal growth and accretive acquisitions in order to increase distributable income and therefore fund distributions;
- Optimize the value of its assets through the dynamic management of its properties in order to maximize the long-term value of its properties and therefore, its units.
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 detailed information, visit BTB's website at www.btbreit.com.
SOURCE BTB Real Estate Investment Trust
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2022/06/c8650.html