MONTRÉAL, April 5, 2022 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB", the "REIT" or the "Trust") announces the acquisition of an industrial property located at 1100 Algoma Road in Ottawa, Ontario.
About the acquisition
Acquired for the purchase price of $12.5M1, Algoma Road is 100% leased to Ontario Medical Supply, a subsidiary of Medical Pharmacies Group. Medical Pharmacies Group Limited operates 25 pharmacies located in medical buildings in Ontario. They are the Ontarian leaders in long-term care, including nursing services and retirement communities.
Built in 2007, the property houses 46,400 square feet of leasable area and is well located Saint-Laurent industrial park. The property is strategically located near Cyrville LRT station, thus facilitating access via public transit.
About BTB
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is a property owner active in eastern and western Canada and considering this acquisition, owns 74 properties, representing a total leasable area of approximately 5.7 million square feet and a total asset value that surpasses $1.1 billion.
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.
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1 Excluding transaction costs and adjustments.
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SOURCE BTB Real Estate Investment Trust
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