MONTREAL, June 15, 2015 /CNW Telbec/ - (TSXV: NEL.UN) Nobel Real Estate Investment Trust (the "REIT" or "Nobel REIT") is pleased to announce today the acquisition of three industrial buildings located in the borough of Saint-Hubert in the city of Longueuil, at 3550 1st Street, 3600 1st Street and 3330 2nd Street (collectively the "Saint-Hubert Portfolio").
As previously announced in the May 25, 2015 press release, the three properties of the Saint-Hubert Portfolio are adjacent, which creates synergy and a good critical mass in the area. Located alongside of Highway 30, the aggregate leasable area of these buildings is 116,157 square feet and the occupancy rate is 97.4%. The purchase price, excluding acquisitions costs, is $10,700,000.
The payment of this acquisition is provided in part by proceeds from the REIT's recently completed equity private placement and also by a $6,420,000 mortgage financing consented by Desjardins.
Correction regarding the announcement of an agreement to acquire a property in Blainville
A typographical error was made in the June 9, 2015 press release; the agreement involves the acquisition of an investment property located at 955 Boulevard Michèle-Bohec in Blainville, not at 905. Nobel REIT apologizes for any inconvenience that may have been caused by this error.
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 fourteen properties located in Québec, comprising 656,345 square feet of gross leasable area.
Disclaimer – Safe Harbour Forward–Looking Statements
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Nobel REIT to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
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 protected], Mariam Ghoneim : [email protected], Tel.: (416) 644-2020 or (514) 939-3989, www.renmarkfinancial.com