News Column

The Nobel Reit Announces Filing of Results for the Quarter Ended March 31, 2014

May 30, 2014



MONTREAL, QUEBEC--(Marketwired - May 30, 2014) - (TSX VENTURE:NEL.UN) - The Nobel Real Estate Investment Trust ("Nobel REIT") announces the filing of its interim consolidated financial statements and its management discussion and analysis report for the quarter ended March 31, 2014.

Highlights and selected financial information

The following table shows highlights and selected financial information for the three-month period ended March 31, 2014.

---------------------------------------------------------------------------- ---------------------------------------------------------------------------- As at December As at March 31 31 2014 2013 ---------------------------------------------------------------------------- $ $ Financial position Investment properties 14,925,733 15,061,212 Total assets 15,599,901 15,753,596 Mortgage payable 10,019,551 10,098,676 Liability related to Class B Limited Partnership units 400,125 545,625 Unitholders' equity 4,709,227 4,692,200 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Three-month Three-month period ended period ended March 31, 2014 March 31, 2013 ---------------------------------------------------------------------------- $ $ Comprehensive loss Rental revenues from properties 491,661 - Net operating income 287,360 - Net profit (loss) before changes in fair values 25,989 (112,510) Net profit (loss) and comprehensive income (loss) for the period 44,526 (112,510) ----------------------------------------------------------------------------



The interim consolidated financial statements of Nobel REIT, which were prepared in accordance with IFRS, and the management discussion and analysis report for the quarter ended on March 31, 2014 have been filed on SEDAR at www.sedar.com.

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 Quebec. 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 Quebec. The REIT currently owns two commercial properties located in Quebec, comprising 71,747 square feet of gross leasable area.

FOR FURTHER INFORMATION PLEASE CONTACT: Louis Lemire, CPA, CA Chief Financial Officer (450) 655-4338 Source: Nobel Real Estate Investment Trust


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Marketwire (Canada)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters