BTB Announces the Results of the 2025 Election of Trustees
MONTRÉAL, June 10, 2025 /CNW/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ('BTB' or the 'REIT') is proud to announce that each of the Trustees nominated in the Management Information Circular dated May 5th, 2025, were elected as Trustees of BTB during the Annual General Meeting held in Montréal today.
The details of the election are as follows:
The results of the final votes regarding all matters subject to a vote during the Annual General Meeting of the Unitholders are available on the SEDAR+ website ( www.sedarplus.ca ).
About BTB
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB REIT invests in industrial, suburban office and necessity-based retail properties across Canada for the benefit of their investors. As of today, BTB owns and manages 75 properties, representing a total leasable area of approximately 6.1 million square feet.
People and their stories are at the heart of our success.
SOURCE BTB Real Estate Investment Trust
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
9 minutes ago
- Yahoo
Residential solar installer Sunnova files for bankruptcy, plans to sell and wind down operations
This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. Sunnova, the second-largest installer of third-party owned residential solar installations by market share, filed for chapter 11 bankruptcy on Sunday. Although the company's customer base and revenue continued to grow, rising interest rates, inflation, tariffs and other factors had eroded the company's profit margins, rendering it unable to pay its debts, President and CEO Paul Mathews said in the bankruptcy filings. Sunnova plans to sell off 'substantially all' of the company's assets and wind-down any remaining operations following the sale, Mathews said. Sunnova said in a Monday announcement following the filing that it will accept bids on its assets and business operations for the next 45 days; after the sale, the company plans to wind-down any remaining operations and close, Mathews said in court filings. The company has already agreed to sell some assets to a holding company that has received $15 million in financing from global investment firm ATLAS SP Partners, and has also agreed to sell other assets from its new homes business unit to builder Lennar Homes for $16 million, according to the company announcement. 'Today's actions mark a critical step towards securing a value-maximizing outcome for Sunnova's stakeholders,' Mathews said in a statement Monday. 'Throughout this process, maintaining continuity of service for our customers is our top priority as we work to secure a long-term solution for our business operations under new ownership.' Matthews said he was 'incredibly grateful to our dedicated Sunnova team for their hard work and commitment. We have built an innovative power provider, and I continue to believe deeply in the future of our industry and the promise of residential solar and storage.' According to the chapter 11 bankruptcy filings, Sunnova faced 'critically tight liquidity' and expected to run out of cash this April or May if it was unable to secure additional financing. However, the company's efforts to find new lenders earlier this year were unsuccessful, a failure Mathews partially attributed in court documents to uncertainty created by Trump's executive order to freeze spending authorized by the Inflation Reduction Act. Although the courts have paused the implementation of that executive order and restored payouts under the act, the uncertainty it created meant lenders were unwilling to provide Sunnova with additional financing, Mathews said. He also said that although Sunnova grew its revenues and quadrupled its customer count between 2020-2024, market factors such as above-target inflation, prolonged high interest rates and tariffs had diminished the company's profitability. The company attempted to cut costs and free up funds to make its growing debt service payments by focusing on lower-risk installations, and by 2025 had shrunk year-over-year net losses by more than 10%, Mathews said. The company also installed new leadership, including Mathews, and laid off 50% of its workforce earlier this year. However, the new strategy was unable to make up for its previous policy of aggressive spending and borrowing in pursuit of rapid growth. By early 2025 the company was unable to pay its dealer network, which caused its contractors to stop work on projects that were in process and further curtailed the company's incoming cash flows, Mathews said. Recommended Reading Utilities' misguided opposition to community solar in California Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
15 minutes ago
- Yahoo
CaaStle Meltdown: P180 Sues ‘The Hunsicker Enterprise' for Conspiracy
It took Christine Hunsicker 14 years to build CaaStle up into what looked like a pioneering fashion rental service with hundreds of thousands of subscribers and a $1.4 billion valuation. But it took almost no time at all for the start-up case study to move from helping to buy fashion brands to devolving almost entirely into scandal. More from WWD Vince Sees Q4 Sales and Profitability Gains, but Projects Q1 Declines Amid Macro Uncertainties Fashion's Enron? P180 Blasts CaaStle's Christine Hunsicker in Fraud Lawsuit CaaStle Gets $2.75M Bridge Loan to Plan Chapter 11 Filing and Weigh Strategic Transactions Hunsicker was working with Brendan Hoffman's P180 to buy control of Vince Holding Corp. in late January and just two months later was out as CaaStle's chief executive officer, accused of doctoring financial statements, racking up losses of more than $510 million and more. The narrative is flipping again, from business breakdown to legal fallout. Already law enforcement was said to be investigating. Now P180 — which was cofounded by Hoffman and Hunsicker and minority-owned by CaaStle — is arguing in a new federal lawsuit that Hunsicker is more than a solitary bad actor, but the 'ringleader of a conspiracy' that violated the Racketeering Influenced and Corrupt Organizations Act, or RICO. 'This case is a tale of lies, betrayal and cover up,' said the P180 suit, which was filed May 27 and also names Jaswinder Pal Singh, George Goldenberg, Scott Callon and Chirag Jain as defendants. They are all tied to CaaStle. A spokesperson for the rental service did not immediately address WWD questions regarding the company or the suit on Tuesday. Hunsicker could not be reached. The federal case follows similar lines as a New York state suit that P180 filed against CaaStle, but adds more details and implicates more players. It is still Hunsicker at the center, though. Hoffman had worked with her before, during his first stint as CEO of Vince, when he dabbled in rental. But it was later, after he left the top job at Wolverine Worldwide in 2023, that Hunsicker made him a real rental believer. According to the suit, Hoffman came to believe that, 'Apparel retailers could reclaim — and perhaps even multiply — their valuation by increasing their marginal gains on discounted merchandise. For years, valuation of apparel companies had declined to be just pennies per dollar of revenue. Hunsicker promised e-commerce scale — specifically, technology and logistics that would enable regular clothing shipments to customers on a massive level — that would allow apparel companies to increase their margin on what otherwise would be discounted merchandise.' In a nutshell, the premise was that renting out instead of discounting goods that don't sell at full price would boost margins. It was a revelation profound enough that Hoffman created P180, marrying his expertise and relationships with Hunsicker's 'self-proclaimed technological and e-commerce prowess,' the suit said. 'What Hoffman did not know — but which eventually has become clear — is that Hunsicker is a world-class fraudster ranking alongside the likes of Bernie Madoff and Elizabeth Holmes,' the suit claimed. 'She lied to the world to make it appear that CaaStle was a success, lied specifically to Hoffman about CaaStle and hid CaaStle's financial data from Hoffman. She presented herself as a skillful and successful entrepreneur who built a robust e-commerce business, raised hundreds of millions of dollars for it and commanded a board of notable leaders in corporate governance. 'Hunsicker, though, did not act alone. She had co-conspirators…with whom she created her house of cards. Hunsicker and her co-conspirators repeatedly stated or implied that CaaStle had a large scale, a huge subscriber base and spectacular financials.' Instead of 'hundreds of thousands of subscribers and hundreds of millions of dollars in revenue, CaaStle itself had just a fraction of those subscribers, barely had any revenue, had supposedly spent hundreds of millions of dollars it received from investors, and had no viable business,' the suit said. 'The whole thing was a sham perpetuated by a pattern of persistent lying, obfuscation and, eventually, cover-up.' The suit repeatedly refers to the alleged conspiracy as 'The Hunsicker Enterprise.' Susan Scafidi, founder and director of the Fashion Law Institute at Fordham Law School, said the complaint 'recasts' the scandal, replacing a single mastermind with a conspiracy. 'It appears intended not only to get ahead of a government investigation but also to distribute the blame — and thus the potential financial liability — for alleged extreme financial misrepresentations, and also to tap into the enhanced damages available under RICO,' Scafidi said. 'If, as JFK noted, success has many fathers but failure is an orphan, this lawsuit aims to bring in as many key CaaStle players as possible for paternity tests — and the discovery process is likely to be in-depth and painful. 'The concept behind CaaStle was very compelling, and from a social perspective it's a pity that the circular and sharing economies of fashion seem so hard to monetize. But the big winners here may be the legal teams working to unravel the plot twists,' she said. There will be plenty to work with. P180's suit claims that 'The Hunsicker Enterprise' induced it to take self-dealing loans and had money 'fraudulently transferred out' of its bank account to both CaaStle and personal accounts. The alleged conspirators also overstated CaaStle's capabilities while P180 lined up investments in Vince and Altuzarra. Separately, CaaStle denied allegations in two cases filed against it in state court, one by a company that owns the name Express over use of the name Express Style Trial and the other by P180. CaaStle tried to get the state court suit by P180 thrown out, claiming it doesn't have standing to bring the case. But a P180 spokesperson said, 'CaaStle filed a motion to dismiss on a technicality that will soon be remedied and will not prevent the case from moving forward.' Best of WWD The Biggest Legal Battles Shaping the Fashion Industry Today PETA Asks Lululemon About Slaughterhouse Practices China's Livestreaming Star Viya Fined $210 Million for Tax Evasion
Yahoo
29 minutes ago
- Yahoo
Fitzwater orders 6-month freeze on new applications for data centers, electric substations
Frederick County Executive Jessica Fitzwater on Wednesday issued an executive order to temporarily prevent county planners from accepting, considering or processing applications for data centers and the electric substations that help power them. The executive order, which is in effect for six months, comes as two separate proposals to regulate data center development in Frederick County are set to either take effect or be introduced to the County Council. The council on May 20 voted to adopt Bill 25-05, which will establish new siting and design criteria for data centers and critical digital infrastructure electric substations. That bill will take effect on July 19, according to the executive order. Another bill that would create an overlay zone confining data center development to the area around the former Alcoa Eastalco Works site and limit how much land in the county can be used for data centers is set to be introduced on June 17, according to the County Council's meeting agenda. The overlay bill would not take effect until Sept. 20 at the earliest, according to the executive order. "This really is just being proactive, looking at what the next few months of deliberations will be over the overlay bill," Fitzwater said in an interview on Wednesday. "It was the responsible thing to do to include this executive order as sort of a companion to that." Previously, Fitzwater issued an executive order preventing county planners from accepting, considering, processing or reviewing piecemeal rezoning applications seeking to have individual parcels rezoned to Limited Industrial (LI) or General Industrial (GI). Those are the only zones where data centers and associated infrastructure can be built under the current county code. The executive order on piecemeal rezoning applications was first issued in June 2023. Fitzwater extended it several times as her data centers work group met to develop and vote on recommendations for regulating the burgeoning industry. In a letter to the County Council on Jan. 16 of this year, Fitzwater said she would allow that executive order to expire on April 8. "The order has been in place for nearly two years, and it has become a barrier to investment from other industry sectors and a challenge for some residents," Fitzwater wrote at the time. "It cannot remain in place indefinitely." On Wednesday, Fitzwater said her new executive order is more specifically tailored to the data center industry. It does not apply to any applications for data centers or associated electric substations for which an Adequate Public Facilities Ordinance Letter of Understanding has already been issued. There are multiple active projects in progress at the former Alcoa Eastalco site near Adamstown, where a campus of data centers is planned. The Colorado-based company Rowan Digital Infrastructure has three projects — known as Bauxite I, II, and III — in development. Bauxite I and Bauxite II will each consist of four data center buildings. Bauxite III will have three buildings. Aligned Data Centers, a Texas-based company, is also developing a project consisting of four data center buildings at the former Alcoa Eastalco site. Fitzwater said the county has not received any new applications for data centers or associated electric substations since she and the County Council announced their intent to create the overlay zone. The new executive order would expire on Sept. 30, unless that date is changed through a subsequent order.
