The Nobel REIT announces filing of results for the year ended December 31, 2013, makes a follow-up on new acquisitions and announces April distribution
MONTREAL, April 17, 2014 /CNW/ - (TSXV: NEL.UN) The Nobel Real Estate Investment Trust (« Nobel REIT ») announces the filing of its consolidated financial statements and its management discussion and analysis report for the year ended December 31, 2013. It also makes a follow-up on the status of its investment properties acquisition project.
Highlights and selected financial information
The following table shows highlights and selected financial information for the year ended December 31, 2013.
As at December 31
|Class B Limited Partnership units||545,625|
December 31, 2013
|Rental revenues from properties||1,152,409|
|Net operating income||694,065|
|Change to fair value of investment properties||142,368|
|Change to fair value of Class B LP units||(176,875)|
|Loss for the period and comprehensive loss||(162,384)|
The consolidated financial statements of Nobel REIT, which were prepared in accordance with IFRS, and the management discussion and analysis report for the year ended on December 31, 2013 have been filed on SEDAR at www.sedar.com.
Follow-up on new acquisitions
In its press release dated December 30, 2013, Nobel REIT announced that it wished to complete a private placement allowing for the acquisition of four investment properties before the end of the first quarter of 2014. Management is currently in a negotiation and analysis process to complete the financing in order to proceed with these acquisitions.
Nobel Real Estate Investment Trust is also pleased to announce today a cash distribution of $0.000297 per trust unit of the REIT for the month of April 2014. The distribution will be payable on May 15, 2014 to unitholders of record as at April 30, 2014.
About Nobel Real Estate Investment Trust
The REIT is a recently created unincorporated open-ended real estate
investment trust governed by the laws of the Province of Québec. The
REIT has been created for the purpose of acquiring and owning income
producing properties. The REIT will focus on acquiring commercial
retail, mixed-used retail, industrial and suburban office properties in
the primary and secondary markets in the Province of Québec. The REIT
currently owns two commercial properties located in Québec, comprising
71,747 square feet of gross leasable area.
SOURCE Nobel Real Estate Investment TrustFor further information:
Louis Lemire, CPA, CA, Chief Financial Officer, at (450) 655-4338.