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

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

Real Estate REIT - Diversified

Artis Real Estate Investment Trust is a diversified Canadian real estate investment trust with a portfolio of industrial, office and retail properties in Canada and the United States. The Company’s portfolio comprises more than 100 commercial properties. Its properties include Bower Centre; Maynard Technology Centre; McCall Lake Industrial; Pepco Building; Alex Building; 1093 Sherwin Road; 1681-1703 Dublin Avenue; Keewatin Distribution Centre; 360 Main & Shops of Winnipeg Square; Hamilton Building; Bell MTS Building II; Grande Prairie Power Centre; Northern Lights Shopping Centre I; 2190 McGillivray Boulevard; 1431 Church Avenue; Prudential Business Park 1; 951-977 Powell Avenue & 1326 Border Street, 100 Omands Creek Boulevard, Hudson's Bay Centre, and others.

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Artis Real Estate Investment Pref Shs Series E > What exactly is the benefit of cancelling preferreds?

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Comment by HermannHalleron Feb 11, 2023 9:46am

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Post# 35281307

RE:RE:What exactly is the benefit of cancelling preferreds?

When Manji unveiled his new strategy for Artis, a couple of years ago (?), he talked about it eventually converting from a REIT to a corporation. This will make it easier for them to invest in other companies, removes payout requirements that a trust has. Analysts at the time asked about the prefs, and Artis acknowledged that to convert to a corp, they would have to first get rid of the prefs (for some legal reason). So, it is my assumption that Artis will redeem the last two pref issues once they are able to do so (next maturity date).

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