MONTREAL, March 27, 2017 /CNW Telbec/ - (TSXV: NEL.UN)
Nobel Real Estate Investment Trust ("Nobel REIT" or the
"REIT") is pleased to announce the results of the REIT's
special meeting of unitholders held earlier today (the
"Meeting").
A combined total of 9,848,703 trust units and special voting
units (collectively, the "Units") were represented at the
Meeting, or 93.59% of the issued and outstanding voting securities
of the REIT. All Units were voted in favour of the only item of
business before the Meeting, which was the approval of the proposed
transaction with Edgefront Real Estate Investment Trust
("Edgefront REIT") anticipated to be completed on or
about April 3, 2017.
Edgefront REIT also held a special meeting of its Unitholders
today and 95.77% of all units voted at the meeting or represented
by proxy voted in favour of the proposed transaction.
According to the President and Chief Executive of Nobel REIT,
Jean Teasdale, "With the approval by
both Nobel REIT's and Edgefront REIT's unitholders, we can now move
forward and complete the merger announced on February 14; to that effect, Nobel REIT will be
seeking final court approval in respect of the proposed arrangement
on March 31, 2017. Effective on the
closing of the transaction, we will operate under the name of Nexus
Real Estate Investment Trust. We are confident that our unitholders
will benefit from the value creation opportunities that will be
realized through a broader and more diversified asset portfolio of
approximately 2.1 million square feet spread over 36 investment
properties across Canada. Finally,
I would like to thank the Nobel Trustees who, from the beginning,
have contributed to the implementation of a quality portfolio".
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 focuses on acquiring
commercial retail, mixed-used retail, industrial and office
properties in the primary markets in the Province of Québec and
Canada. Nobel REIT currently owns,
in whole or in part, directly or indirectly, sixteen properties
located in Québec, comprising more than 869,000 square feet of
gross leasable area.
About Edgefront REIT
Edgefront REIT is a growth oriented real estate investment trust
focused on increasing unitholder value through the acquisition,
ownership and management of industrial properties located in
primary and secondary markets in North
America. The REIT currently owns a portfolio of 20
properties comprising approximately 1,180,000 square feet of
rentable 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