Nobel REIT Announces the Completion of a $700,000 Term Loan

Nobel Real Estate Investment Trust (Nobel REIT) announces the completion of a term loan in the principal amount of $700,000 provided by a third party lender. The Loan is secured by a second ranking charge on the universality of the REIT's assets and bears a floating interest rate at the greater of 9% per annum or the TD Canada Trust Posted Bank Prime Rate of Interest from time to time plus 6% per annum. The proceeds of the Loan are intended to be used to pay expenses and other cash disbursements related to the potential acquisition of new investment properties.  The disbursement, net of financing fees, was made earlier today by the lender.

on September 10, 2013