WINNIPEG, MB, June 15, 2020 /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 June 30, 2020. The cash distributions will be
made on June 30, 2020 to Series A
Unitholders of record on June 30,
2020. As at the date hereof, there are an aggregate of
3,361,200 Series A Units issued and outstanding.
- $0.342 per Series E preferred
unit ("Series E Unit") of Artis for the quarter ending June 30, 2020. The cash distributions will be
made on June 30, 2020 to Series E
Unitholders of record on June 30,
2020. As at the date hereof, there are an aggregate of
3,797,730 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 March 31, 2020, Artis' commercial property
comprises approximately 23.8 million square feet of leasable
area.
During the three months ended March 31,
2020, Proportionate Share Property NOI by asset class was
46.8% office, 18.7% retail and 34.5% industrial. Proportionate
Share Property NOI by geographical region was 2.7% in British Columbia, 16.5% in Alberta, 6.7% in Saskatchewan, 13.7% in Manitoba, 10.8% in Ontario, 10.0% in Arizona, 21.5% in Minnesota, 9.7% in Wisconsin and 8.4% 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