MONTRÉAL, Feb. 29,
2024 /CNW/ - BTB Real Estate Investment Trust (TSX:
BTB.UN) ("BTB" or the "REIT") announces the sale of
two office properties located at 32 and 50, Saint-Charles Street
West, in Longueuil (Québec).
These two buildings of 14,054 and 19,568 square feet were
acquired in May 2007. Further to the
strategic review of BTB's portfolio, these properties were
identified as potential dispositions since that they no longer meet
the REIT's investment criteria. BTB therefore disposed of these
buildings for a total consideration of $6.2 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 75 properties, representing a
total leasable area of approximately 6.1 million square
feet.
People and their stories are at the heart of our
success.
For more detailed information, visit BTB's website at
www.btbreit.com.
SOURCE BTB Real Estate Investment Trust