The Nobel REIT announces filing of results for the quarter ended June 30, 2013

MONTREAL, Aug. 28, 2013 /CNW/ - (TSXV: 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 June 30, 2013.

Highlights and selected financial information

The following table shows highlights and selected financial information for the three and six month periods ended June 30, 2013.

											As at June 30
											2013
											$
Financial position
	Investment properties										14,651,778
	Total assets										15,281,315
	Mortgage payable										9,512,667
	Class B Limited Partnership units										650,107
	Unitholders' equity										4,441,560
							Three-month				Six-month
							period ended				period ended
							June 30, 2013				June 30, 2013
							$				$
Comprehensive loss
	Rental revenues from properties						170,767				170,767
	Net operating income						120,580				120,580
	Change to fair value of investment properties						(257,632)				(257,632)
	Change to fair value of Class B LP units						(270,107)				(270,107)
	Loss for the period and comprehensive loss						(578,225)				(690,735)

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 June 30, 2013 have been filed on SEDAR at www.sedar.com (in French only for the moment).

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

Louis Lemire, CPA, CA, Chief Financial Officer, at [phone]