WINNIPEG, MB, Sept. 19,
2023 /CNW/ - Artis Real Estate Investment Trust (TSX:
AX.UN) ("Artis" or the "REIT") announced today that it has
determined, based upon the election of holders of Preferred Units,
Series E ("Series E Units") (AX.PR.E), that fewer than
500,000 Series F Units would be issued on October 2, 2023 (being the first business day
after September 30, 2023) and
consequently, as provided for in the Certificate of Series E Unit
Terms, no holders of Series E Units are entitled to reclassify
their Series E Units to Series F Units on October 2, 2023.
Accordingly, all 3,277,110 Series E Units will remain issued and
outstanding following September 30,
2023, and during the subsequent five-year period commencing
October 2, 2023 holders will be
entitled to receive distributions, if, as and when declared by the
Board of Trustees of Artis, in an annual amount per Series E Unit
determined by multiplying the Annual Fixed Distribution Rate of
7.198% per annum by $25.00, payable
quarterly on the last business day of each of March, June,
September and December in each year during such period.
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Artis is a diversified Canadian real estate investment trust
with a portfolio of industrial, office and retail properties in
Canada and the United States. Artis' vision is to build a
best-in-class asset management and investment platform focused on
growing net asset value per unit and distributions for investors
through value investing in real estate.
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