BTB REIT Announces the Sale of two Office Properties Located in Longueuil, Québec, a suburb of Montréal

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.

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.

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For more detailed information, visit BTB’s website at www.btbreit.com. 

SOURCE BTB Real Estate Investment Trust