WINNIPEG, Dec. 17, 2018 /CNW/ - Artis Real Estate
Investment Trust (TSX: AX.PR.A) (TSX: AX.PR.E) ("Artis" or the
"REIT") announced that its trustees have declared the following
quarterly cash distributions:
- $0.353875 per Series A preferred
unit ("Series A Unit") of Artis for the quarter ending
December 31, 2018. The cash
distributions will be made on December 31,
2018, to Series A Unitholders of record on December 31, 2018. As at the date hereof, there
are an aggregate of 3,450,000 Series A Units issued and
outstanding.
- $0.342 per Series E preferred
unit ("Series E Unit") of Artis for the quarter ending
December 31, 2018. The cash
distributions will be made on December 31,
2018, to Series E Unitholders of record on December 31, 2018. As at the date hereof, there
are an aggregate of 4,000,000 Series E Units issued and
outstanding.
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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 September 30, 2018, Artis' commercial property
comprises approximately 24.8 million square feet of leasable
area.
During the three months ended September
30, 2018, Property Net Operating Income ("Property NOI") by
asset class, including Artis' proportionate share of properties
held in joint venture arrangements, was approximately 52.6% office,
20.4% retail and 27.0% industrial. Property NOI by geographical
region, including Artis' proportionate share of properties held in
joint venture arrangements, was approximately 3.0% in British Columbia, 21.0% in Alberta, 6.5% in Saskatchewan, 13.6% in Manitoba, 11.1% in Ontario, 10.4% in Arizona, 18.1% in Minnesota, 8.8% in Wisconsin and 7.5% 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.
Suite 600 – 220 Portage Avenue
Winnipeg, MB R3C
0A5
T 204.947.1250 F 204.947.0453
www.artisreit.com
AX.UN on the TSX
SOURCE Artis Real Estate Investment Trust