WINNIPEG, June 14, 2017 /CNW/ - Artis Real Estate
Investment Trust (TSX: AX.PR.A) (TSX: AX.PR.U) (TSX: AX.PR.E)
("Artis" or "the REIT") announced that its trustees have declared
the following quarterly cash distributions:
- $0.328125 per Series A preferred
unit ("Series A Unit") of Artis for the quarter ending June 30, 2017. The cash distributions will be
made on June 30, 2017 to Series A
Unitholders of record on June 30,
2017. As at the date hereof, there are an aggregate of
3,450,000 Series A Units issued and outstanding.
- US$0.328125 per Series C
preferred unit ("Series C Unit") of Artis for the quarter ending
June 30, 2017. The cash distributions
will be made on June 30, 2017 to
Series C Unitholders of record on June 30,
2017. As at the date hereof, there are an aggregate of
3,000,000 Series C Units issued and outstanding.
- $0.296875 per Series E preferred
unit ("Series E Unit") of Artis for the quarter ending June 30, 2017. The cash distributions will be
made on June 30, 2017 to Series E
Unitholders of record on June 30,
2017. As at the date hereof, there are an aggregate of
4,000,000 Series E Units issued and outstanding.
Artis is a diversified Canadian real estate investment trust
investing in office, retail and industrial properties. Since 2004,
Artis has executed an aggressive but disciplined growth strategy,
building a portfolio of commercial properties in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and select markets in the United States. As of March 31, 2017, Artis' commercial property
comprises approximately 25.4 million square feet of leasable
area.
During the three months ended March 31,
2017, Property Net Operating Income ("Property NOI") by
asset class, including Artis' proportionate share of properties
held in joint venture arrangements, was approximately 57.0% office,
20.8% retail and 22.2% industrial. Property NOI by geographical
region, including Artis' proportionate share of properties held in
joint venture arrangements, was approximately 4.8% in British Columbia, 28.0% in Alberta, 6.3% in Saskatchewan, 12.9% in Manitoba, 10.5 % in Ontario, 7.9% in Arizona, 16.7% in Minnesota, 8.7% in Wisconsin and 4.2% in U.S. – Other.
Property NOI is a non-GAAP measure. Artis calculates Property
NOI as revenues less property operating expenses such as utilities,
repairs and maintenance and realty taxes. Property NOI does not
include charges for interest or other expenses not specific to the
day-to-day operation of the REIT's properties.
The Toronto Stock Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this press
release.
SOURCE Artis Real Estate Investment Trust