WINNIPEG, Feb. 15, 2017 /CNW/ - Artis Real Estate Investment
Trust (TSX: AX.UN) ("Artis" or the "REIT") announced that its trustees have declared its regular monthly cash distribution of
$0.09 per trust unit ("Unit") of Artis for the month of February, 2017. The cash distributions will
be made on March 15, 2017 to Unitholders of record on February 28,
2017.
As at the date hereof, there are an aggregate of 150,577,071 Units issued and outstanding.
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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
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and select
markets in the United States. As of September 30, 2016, Artis'
commercial property comprises approximately 27.2 million square feet of leasable area.
During the three months ended September 30, 2016, Property Net Operating Income ("Property NOI")
by asset class, including Artis' proportionate share of properties held in joint venture arrangements, was approximately 51.5%
office, 24.6% retail and 23.9% industrial. Property NOI by geographical region, including Artis' proportionate share of
properties held in joint venture arrangements, was approximately 9.0% in British Columbia, 30.2%
in Alberta, 5.7% in Saskatchewan, 12.1% in Manitoba, 10.0 % in Ontario and 33.0% in the U.S.
Property NOI is a non-GAAP measure. Artis calculates Property NOI as revenues less property operating expenses such as
utilities, repairs and maintenance and realty taxes. Property NOI does not include charges for interest or other expenses
not specific to the day-to-day operation of the REIT's properties.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy
or accuracy of this press release.
SOURCE Artis Real Estate Investment Trust
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