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
2013
|
| |
|
$ |
| Financial position |
|
| |
Investment properties |
15,061,212 |
| |
Total assets |
15,753,596 |
| |
Mortgage payable |
10,098,676 |
| |
Class B Limited Partnership units |
545,625 |
| |
Unitholders' equity |
4,692,200 |
| |
|
|
|
|
Year ended
December 31, 2013
|
| |
|
$ |
| Comprehensive loss |
|
| |
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.
April distribution
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 Trust