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 > Office sale

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Comment by jmkOttawaon Jan 12, 2025 6:33pm

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Post# 36400316

RE:RE:RE:RE:RE:Office sale

You will remember that NAV was just under 20 dollars at one point. Cap rate expansion due to rising rates and poor office performance means that they likely sold for current IFRS values and are buying back shares at a discount to IFRS value of close to 50 per cent. The sale makes perfect sense under the circumstance. At the time the properties were valued much higher, the unit was trading in the 12 plus range. In addition by reducing office exposure (Class B), they are de-risking the REIT. It is a great move.

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