Marketwire
WINNIPEG, MANITOBA--(Marketwired - Oct. 17, 2013) - Artis Real Estate Investment Trust (TSX:AX.PR.G) ("Artis" or the "REIT") announced that its trustees have declared an initial cash distribution of $0.3219 per Series G preferred unit ("Series G Unit") of Artis for the initial period ending October 31, 2013. The cash distributions will be made on October 31, 2013 to Series G Unitholders of record on October 31, 2013.
As at the date hereof, there are an aggregate of 3,200,000 Series G Units issued and outstanding.
Artis is a diversified Canadian real estate investment trust investing in office, industrial and retail properties. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in Canada and the United States, with a major focus on Western Canada. As of today's date, Artis' commercial property comprises over 24.8 million square feet of leasable area in 233 properties.
At June 30, 2013, actual year-to-date Property Net Operating Income ("Property NOI") by asset class was approximately 25.4% retail, 50.4% office and 24.2 % industrial. Property NOI by geographical region was approximately 9.5% in British Columbia, 38.6% in Alberta, 6.3% in Saskatchewan, 12.8% in Manitoba, 13.7% in Ontario and 19.1% in the U.S.
Property NOI is a non-GAAP measure. Artis calculates Property NOI as revenues, measured in accordance with International Financial Reporting Standards, less property operating expenses such as taxes, utilities, repairs and maintenance, and does not include charges for interest and amortization or income from joint arrangements accounted for as equity investments.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.