U.S. Markets open in 3 hrs 22 mins

BTB announces the sale of one property in Jonquière, Québec

MONTRÉAL, Aug. 15, 2019 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB") announces the sale of a retail property located at 3885 Harvey Boulevard in Jonquière, Québec, for total proceeds of $4.4 million . BTB purchased that property in March 2008 .

About BTB

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada . As at August 15, 2019 , BTB owns 66 retail, office and industrial properties for a total leasable area of 5.7 million square feet and an approximate market value of $900M .  

The objectives of BTB are: i) to grow its revenues from its assets to increase distributable income and therefore fund distributions; (ii) to maximize the value of its assets through dynamic management of its properties in order to sustain the long-term value of its units; and (iii) to generate cash distributions that are fiscally beneficial to unitholders.

BTB offers a distribution reinvestment plan to unitholders whereby the participants may elect to have their monthly cash distribution reinvested in additional units of BTB at a price based on the weighted average price for BTB's Units on the Toronto Stock Exchange for the five trading days immediately preceding the distribution date, discounted by 3%.

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

SOURCE BTB Real Estate Investment Trust

View original content: http://www.newswire.ca/en/releases/archive/August2019/15/c5995.html