BTB REIT Announces the Sale of a Retail and Office Property Located on the Island of Montreal, Quebec

MONTRÉAL, Sept. 19, 2022

This 10,773 square foot building was acquired in July 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 asset detention criteria. BTB therefore disposed of this building for a total consideration of $4.4 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 is a property owner active in Canada and considering these transactions, it owns 75 properties, representing a total leasable area of approximately 5.9M square feet and a total asset value that surpasses $1.2B.

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

SOURCE BTB Real Estate Investment Trust