MONTRÉAL, Dec. 8, 2022 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB" or the "REIT") announces the sale of an office property located at 81-83, Turgeon Street, in Sainte-Thérèse, Québec.
This 24,925 square foot building was acquired in November 2007 and renovated in 2017. During the strategic repositioning of BTB's portfolio, this property was identified as a potential disposition since that the property did not meet the REIT's asset investment criteria. BTB disposed of this building for a total consideration of $4.58 million, excluding transaction costs. The net proceeds of disposal will be reinvested in acquisitions of industrial properties.
About BTB
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB REIT invests in industrial, off-downtown core office and necessity-based retail properties across Canada for the benefit of their investors. As of today, BTB owns and manages 74 properties, representing a total leasable area of approximately 5.88 million square feet and a total asset value that surpasses $1.12 billion.
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For more detailed information, visit BTB's website at www.btbreit.com.
SOURCE BTB Real Estate Investment Trust
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