MONTRÉAL, June 29, 2022 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB" or the "REIT") announces the acquisition of an industrial property located at 3905 Allard Avenue in Edmonton, Alberta for a total consideration of 12.95M$, excluding transaction costs and adjustments.
About the Acquisition
Built in 2011, the property is a 51,747 square foot industrial property which is fully leased to H.E. Parts International a subsidiary of Hitachi Construction Machinery, a public company listed on the Japanese Stock Exchange. H.E. Parts' mission is to provide customers with the highest quality spare parts, components and services that improve performance and extend the life cycle and reduce costs.
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is a property owner active in Canada and considering these transactions, it owns 75 properties, representing a total leasable area of approximately 5.8M square feet and a total asset value that surpasses $1.18B.
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
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