Canada NewsWire
MONTRÉAL , Dec. 14, 2022 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) (" BTB " or the " REIT ") announces the sale of an office property located at 7001-7035, Saint-Laurent boulevard in the heart of Little Italy in Montréal, Québec.
This 25,322 square foot building was acquired in September 2007 . 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 investment criteria. BTB disposed of this building for a total consideration of $5.9 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 73 properties , representing a total leasable area of approximately 5.86 million square feet and a total asset value that surpasses $1.11 billion .
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
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