MONTREAL, Nov. 29, 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 September 30, 2013.
Highlights and selected financial information
The following table shows highlights and selected financial information for the three-month and nine-month periods ended September 30, 2013.
| As at September 30 | ||
| 2013 | ||
| $ | ||
| Financial position | ||
| Investment properties | 14,657,072 | |
| Total assets | 15,562,348 | |
| Mortgage payable | 10,076,775 | |
| Class B Limited Partnership units | 727,500 | |
| Unitholders' equity | 4,261,251 |
| Three-month | Nine-month | |
| period ended | period ended | |
| September 30, 2013 | September 30, 2013 | |
| $ | $ | |
| Comprehensive loss | ||
| Rental revenues from properties | 490,900 | 662,667 |
| Net operating income | 310,824 | 431,404 |
| Change to fair value of investment properties | - | (257,632) |
| Change to fair value of Class B LP units | (88,643) | (358,750) |
| Loss for the period and comprehensive loss | (47,127) | (737,862) |
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 September 30, 2013 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 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 (450) 655-4338.
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