MONTREAL, July 22, 2015 /CNW Telbec/ - (TSXV: NEL.UN) The Nobel Real Estate Investment Trust (the « REIT » or « Nobel REIT ») is pleased to announce today a cash distribution of $0.002833 per trust unit of the REIT for the month of July 2015. The distribution will be payable on August 17, 2015 to unitholders of record as at July 31, 2015.
"Three months after our last distribution increase, we are proud to announce that the monthly distribution per unit is being increased by 39.4% in comparison to the previous month. Our distribution policy provides for 50% of adjusted funds from operations forecasted for a twelve-month period to be distributed to unitholders; accordingly, the annual distribution per unit now represents 4.42% of the current unit price. This new increase demonstrates the effectiveness of our sustainable distribution policy and growth strategy; we will continue to take all the necessary steps in order to increase progressively our distribution." stated Jean Teasdale, President and Chief Executive of Nobel REIT.
About Nobel REIT
Nobel REIT is an unincorporated open-ended real estate investment trust governed by the laws of the Province of Québec. Nobel 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, and industrial and suburban office properties in the primary and secondary markets in the Province of Québec. Nobel REIT currently owns fifteen properties located in Québec, comprising 694,535 square feet of gross leasable area.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Nobel Real Estate Investment Trust
For further information: Louis Lemire, CPA, CA , Chief Financial Officer, Nobel Real Estate Investment Trust, 1185, Chemin du Tremblay, Suite 230, Longueuil, QC, J4N 1R4 , Tel: 450-655-4338; Renmark Financial Communications Inc.: Barry Mire: email@example.com; Mariam Ghoneim : firstname.lastname@example.org, Tel.: (416) 644-2020 or (514) 939-3989; www.renmarkfinancial.com