WINNIPEG, March 15, 2017 /CNW/ - Artis Real Estate
Investment Trust (TSX: AX.PR.A) (TSX: AX.PR.U) (TSX: AX.PR.E) ("Artis" or the "REIT") announced that its trustees have declared
the following quarterly cash distributions:
- $0.328125 per Series A preferred unit ("Series A Unit") of Artis for the quarter ending
March 31, 2017. The cash distributions will be made on March 31,
2017 to Series A Unitholders of record on March 31, 2017. As at the date hereof, there are
an aggregate of 3,450,000 Series A Units issued and outstanding.
- US$0.328125 per Series C preferred unit ("Series C Unit") of Artis for the quarter ending
March 31, 2017. The cash distributions will be made on March 31,
2017 to Series C Unitholders of record on March 31, 2017. As at the date hereof, there are
an aggregate of 3,000,000 Series C Units issued and outstanding.
- $0.296875 per Series E preferred unit ("Series E Unit") of Artis for the quarter ending
March 31, 2017. The cash distributions will be made on March 31,
2017 to Series E Unitholders of record on March 31, 2017. As at the date hereof, there are
an aggregate of 4,000,000 Series E Units issued and outstanding.
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Artis is a diversified Canadian real estate investment trust investing in office, retail and industrial 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 December 31, 2016, Artis'
commercial property comprises approximately 25.7 million square feet of leasable area.
During the three months ended December 31, 2016, Property Net Operating Income ("Property NOI")
by asset class, including Artis' proportionate share of properties held in joint venture arrangements, was approximately 54.9%
office, 20.8% retail and 24.3% industrial. Property NOI by geographical region, including Artis' proportionate share of
properties held in joint venture arrangements, was approximately 4.6% in British Columbia, 29.6%
in Alberta, 6.3% in Saskatchewan, 12.2% in Manitoba, 10.3% in Ontario, 7.2% in Arizona, 17.5% in Minnesota, 8.5% in Wisconsin and 3.8% in U.S. – Other.
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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