Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

Alternate Symbol(s): T.AX.UN | ARESF | T.AX.PR.I

Real Estate REIT - Diversified

Artis Real Estate Investment Trust is an unincorporated closed-end REIT based in Canada. Artis REIT's portfolio comprises properties located in Central and Western Canada and select markets throughout the United States, including regions such as Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, Arizona, Minnesota, Colorado, New York, and Wisconsin. The properties are divided into three categories: office, retail, and industrial. The industrial properties account for most of the portfolio, followed by the office properties and the retail properties.

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Artis Real Estate Investment Pref Shs Series E > Asset Sales Underway

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Post by babybunnyon Feb 29, 2024 5:43pm

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Post# 35907792

Asset Sales Underway

Perhaps I am misreading the news release and MD&A, but as I understand it there are quite a few new committed asset sales in addition to the (8) retail properties that we had already been told of: (4) Canadian office; (1) Canadian industrial; (1) Canadian retail; and (1) USA industrial. This would represent terrific progress imo, especially since Samir is bemoaning the current selling climate.

The total value of all the committed-sale properties including the (8) retail properties we already knew of is $445M Canadian. This means the newly committed dispositions are worth $223M.

If this is true, I consider it news, especially when combined with holding distributions steady and recommitting to buybacks. But this seems too good to be true, so perhaps I just read this wrong.

Baby Bunny

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