|By Marketwired .||
|June 18, 2014 07:28 PM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 06/18/14 -- (TSX VENTURE:NEL.UN) Nobel Real Estate Investment Trust (the "REIT") is pleased to announce today a cash distribution of $0.000297 per trust unit of the REIT for the month of June 2014. The distribution will be payable on July 15, 2014 to unitholders of record as at June 27, 2014, before the completion of the previously announced upcoming private placement expected on or around June 30, 2014.
The REIT and RFA Capital Partners Inc. have completed the due diligence process and both parties are in the process of finalizing the Investment Agreement. The transaction is now only subject the unitholders and regulatory approvals; the unitholders' vote to that effect will take place at the annual and special meeting to be held on June 26, 2014. As for the acquisition of the target properties, Nobel expects to complete them in the month following the closing of the private placement.
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.
Louis Lemire, CPA, CA
Chief Financial Officer