BROSSARD, QC , April 4, 2014 /CNW Telbec/ - BLF Real Estate Investment Trust ("BLF") (BLF-UN.V) wishes to inform its unitholders about the fire situation at Domaine Saint-Martin, which occurred this past April 2 nd.
According to the information we have, there are no severe injuries or death and all affected tenants are secured.
The complex is composed of 8 buildings, for a total of 305 units. Only one of the 48 units buildings was hit by the fire. Out of the 48 units, approximately 20 units would be severely damaged or destroyed. However, the entire building is affected and currently not in a habitable condition due to water damage.
According to the information currently available, the fire would be of criminal origin and not due to electrical failure or some other sort of operational negligence.
We do not believe this fire will impact BLF's financial situation. In fact, we believe our insurance coverage will be sufficient, subject to certain regulations confirmations from City officials.
The day of the event, the complex had a total of 10 vacant units, which were rented to some affected tenants. The complex is now fully occupied.
We are currently offering all possible support to the affected tenants and their families. We wish to thank the firefighters and police officers of the City of Laval for their excellent work. We also wish to thank the Red Cross, which is offering much appreciated help to the victims of the fire.
About BLF REIT
The principal business of BLF REIT is acquiring, holding, developing, maintaining, improving, leasing, managing or otherwise dealing with income-producing multi-units residential properties located throughout Québec. BLF REIT currently owns seven properties located in Greater Montréal, Sherbrooke and Québec City, totaling 1,049 apartment units.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE BLF Real Estate Investment Trust
- Real Estate