Search
 

REIT Ties Up Assets in Quebec

MONTREAL-Locally headquartered BTB Real Estate Investment Trust agrees to acquire a pair of mixed-use buildings in the Greater Montreal area for $18 million.

By Brian K. Miller | Updated on January 28, 2007

(For more retail coverage, click GlobeSt.com/RETAIL and to read more on the industrial market, click here.)

MONTREAL-Locally headquartered BTB Real Estate Investment Trust has agreed to acquire a pair of mixed-use buildings in the Greater Montreal region for $18 million. The larger of the two properties is Les Halles St-Jean, a fully leased retail and office building in the province of St-Jean-sur-Richelieu, located 30 miles southeast of Montreal.

Located at 145 St-Joseph Blvd. E., the 108,972-sf building contains a 62,000-sf indoor retail mall and 47,000 sf of office. Approximately 45% of the revenue from the property is generated by a financial institution, a government-owned corporation, a pharmacy and governmental offices. The property’s NOI translates to a cap rate of 9.05%, according to BTB. An expansion of the building is under consideration.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.