MONTRÉAL, Oct. 21, 2014 /CNW Telbec/ - (TSXV: NEL.UN) Nobel Real Estate Investment Trust ("Nobel REIT" or the "REIT") is pleased to announce today a cash distribution of $0.000957 per trust unit of the REIT for the month of October 2014, an increase of 88% from the previous month. The distribution will be payable on November 14, 2014 to unitholders of record as at October 31, 2014.
The distribution amount is adjusted according to the REIT's distribution policy unveiled on December 30, 2013. This policy provides for 25% of the adjusted funds from operations (commonly known as "AFFO") to be distributed, the balance being invested into the REIT's growth strategy. Consequently, this increase reflects of the impact of the investment properties acquired during the third quarter of 2014.
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 five properties located in Québec, comprising 186,955 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
Louis Lemire, CPA, CA, Chief Financial Officer, at (450) 655-4338.