Nobel REIT resolutely continues growth plan and improves financial indicators

MONTREAL, April 1, 2015 /CNW Telbec/ - (TSXV: NEL.UN) The Nobel Real Estate Investment Trust (« Nobel REIT ») announces that it is continuing its growth plan and improving its financial indicators, following the filing of its consolidated financial statements and its management report for the year ended December 31, 2014.

Nobel REIT went from 72,734 square feet of leasable space spread over two investment properties as at December 31, 2013 to eight investment properties totaling 395,970 square feet of leasable area on  December 31, 2014, an increase of 444%.

Regarding the mortgage debt ratio, it decreased from 64.3% as at December 31, 2013 to 58.8% a year later, an improvement of 5.5%.

Funds from operations (« FFO ») and adjusted funds from operations (« AFFO »)  are also up sharply compared to 2013, as both items were negative at that time; for the year ended December 31 2014, the increase was $ 562,708 for funds from operations and $ 562,811 for the AFFO.

According to Jean Teasdale, President and Chief Executive of Nobel REIT, "2014 was a pivotal year for Nobel; the $24 million raised through private placements allowed the REIT to acquire six new investment properties and to reduce its debt ratio, while providing the necessary liquidity to operate the business . We see the future with optimism and expect to continue our growth in 2015 ".

Highlights and selected financial information

The following tables show highlights and selected financial information for the quarter and year ended December 31, 2014.

		As at December 31	As at December 31
		2014	2013
		$	$
Financial position
	Investment properties	59,586,619	15,061,212
	Total assets	66,063,767	15,753,596
	Mortgage loans payable	38,636,767	10,098,676
	Non-current liability	38,013,264	10,235,187
	Unitholders' equity	25,821,412	4,692,200
		As at December 31 2014	As at December 31 2013
Management discussion and analysis
	Number of investment properties	8	2
	Gross leasable area, in square feet	395,970	72,734
	Mortgage debt ratio	58.8%	64.3%
		Quarter ended	Quarter ended
		December 31, 2014	December 31, 2013
		$	$
Comprehensive loss
	Rental revenues from properties	979,803	489,742
	Net operating income	714,338	262,661
	Net income (loss) before changes in fair values	261,527	(76,049)
Management discussion and analysis
	Funds from operations	261,527	(76,049)
	Adjusted funds from operations	263,479	(74,174)
		Year ended	Year ended
		December 31, 2014	December 31, 2013
		$	$
Comprehensive loss
	Rental revenues from properties	2,672,698	1,152,409
	Net operating income	1,787,635	694,065
	Net loss before changes in fair values	(102,724)	(197,529)
Management discussion and analysis
	Funds from operations	365,179	(197,529)
	Adjusted funds from operations	372,782	(190,029)

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, 2014 have been filed on SEDAR at www.sedar.com.

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 eight properties located in Québec, comprising 395,970 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, Nobel Real Estate Investment Trust, 1185, Chemin du Tremblay, Suite 230, Longueuil, QC, J4N 1R4, Tel: [phone]; Renmark Financial Communications Inc., Barry Mire: [email protected], Mariam Ghoneim : [email protected], Tel.: [phone] or [phone], www.renmarkfinancial.com