|By Marketwired .||
|August 12, 2014 04:26 PM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 08/12/14 -- (TSX VENTURE: NEL.UN) - Nobel Real Estate Investment Trust ("Nobel REIT" or the "REIT") is pleased to announce that it has acquired a commercial property comprising 35,785 square feet of gross leasable area, located on a 217,298 square feet site area at 41 boulevard Saint-Jean-Baptiste in the city of Chateauguay, Quebec, for a purchase price of $6,300,000, excluding acquisition costs. The occupancy of the property is 100% and the current lease of Societe en Commandite 220 Immobiliere, the single-tenant, and RONA Inc, its subtenant, expires in October 2020.
This acquisition was financed by a loan in the amount of $4,600,000, secured by a first ranking hypothec on the acquired property, with the balance of the purchase price satisfied with part of the net proceeds of the REIT's recent private placement completed on July 10, 2014. The secured loan bears interest at a fixed rate of 3.68% for a five-year term. As for the previous acquisition announced on July 18, the mortgage loan was provided by MCAP Financial Corporation. The effective capitalization rate of the acquisition is 6.95%.
About Nobel REIT
Nobel REIT is an unincorporated open-ended real estate investment trust governed by the laws of the Province of Quebec. 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 Quebec. Nobel REIT currently owns four properties located in Quebec, comprising 168,318 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.
Louis Lemire, CPA, CA
Chief Financial Officer
Peak 10 has announced that it has completed a 20,000 square foot expansion of its Cincinnati-area data center, a 6,000 square foot expansion of its data center campus in Charlotte’s University Research Park, and added a pair of seasoned executives to its leadership team. This further propels the company on its aggressive growth trajectory to meet the rising demand for flexible hybrid IT strategies and solutions across its enterprise customer base. Cincinnati is home to companies like Kroger, Pr...
Mar. 23, 2017 11:00 AM EDT Reads: 2,262
VeriStor Systems has announced that CRN has named VeriStor to its 2017 Managed Service Provider (MSP) 500 list in the Elite 150 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed services. Their offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. In today’s fast-paced business environments, MSPs play an important role...
Mar. 23, 2017 11:00 AM EDT Reads: 1,847
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
Mar. 23, 2017 10:45 AM EDT Reads: 1,265
Mar. 23, 2017 09:30 AM EDT Reads: 2,391
Mar. 23, 2017 08:59 AM EDT Reads: 270
Mar. 23, 2017 08:30 AM EDT Reads: 2,573
Mar. 23, 2017 08:00 AM EDT Reads: 846
Mar. 23, 2017 08:00 AM EDT Reads: 1,973
Mar. 23, 2017 08:00 AM EDT Reads: 3,650
Mar. 23, 2017 08:00 AM EDT Reads: 3,209
Mar. 23, 2017 07:45 AM EDT Reads: 980
Mar. 23, 2017 06:45 AM EDT Reads: 1,498
Mar. 23, 2017 05:30 AM EDT Reads: 1,273
Mar. 23, 2017 05:30 AM EDT Reads: 3,058
Mar. 23, 2017 05:15 AM EDT Reads: 8,112