BTB Real Estate Investment Trust
TSX VENTURE : BTB.UN

BTB Real Estate Investment Trust

November 16, 2007 14:05 ET

BTB Real Estate Investment Trust Announces a $39 Million Mortgage Financing With GE Real Estate

MONTREAL, QUEBEC--(Marketwire - Nov. 16, 2007) - BTB Real Estate Investment Trust (TSX VENTURE:BTB.UN) ("BTB") announces the closing of a $39 million mortgage financing with GE Canada Real Estate. This financing is guaranteed by recently acquired properties and the proceeds will be used by BTB in order to pursue its business plan and to acquire additional properties. It has a five-year term, without reimbursement of capital and bears interest at an annual rate of 6.36%.

"In BTB's short existence, it is our second mortgage financing with GE Canada Real Estate. We are happy to count on this preferential partner's support" as stated by Mr. Michel Leonard, President and Chief Executive Officer of BTB.

Forward Looking Statements

This press release contains forward looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions. Although the trustees of BTB believe that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Some of the factors and risks which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include the impact of general economic conditions, industry conditions, governmental regulation, environmental risks, competition from other industry participants, stock market volatility, the ability to access sufficient capital from internal and external sources and the risk of fluctuation and variation in actual operating results, which variation may be material. A full description of these risks and uncertainties can be found in BTB's annual Management Discussion and Analysis dated April 27, 2007 which is available electronically at www.sedar.com.

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included herein are made as of the date hereof and BTB does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise.

The TSX Venture Exchange has in no way passed upon the merits of the transactions and has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • BTB Real Estate Investment Trust
    Mr. Michel Leonard
    President and Chief Executive Officer
    514-866-1990 ext. 236