MONTREAL, June 29, 2022 /CNW Telbec/ – BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB“or the”REITs“) announces the acquisition of an industrial building located at 3905, avenue Allard in Edmonton, AB for full consideration of $12.95Mexcluding transaction costs and adjustments.
About the Acquisition
Built in 2011, the property is a 51,747 square foot industrial property that is fully leased to HE Parts International, a subsidiary of Hitachi Construction Machinery, a public company listed on the Japanese Stock Exchange. HE Parts’ mission is to provide customers with the highest quality replacement parts, components and services that improve performance, extend life and reduce costs.
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an active property owner in Canada and in view of these transactions, it holds 75 propertiesrepresenting a total leasable area of approximately 5.8M square feet and a total asset value that exceeds $1.18 billion.
BTB offers unitholders a distribution reinvestment plan under which participants may elect to have their monthly cash distribution reinvested in additional units of BTB at a price based on the weighted average price of BTB’s units on the Toronto Stock Exchange for the five trading days immediately preceding the distribution date, discounted by 3%. For more details, visit the BTB website at www.btbreit.com.
SOURCE BTB Real Estate Investment Trust
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