WINNIPEG, June 14, 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
June 30, 2017. The cash distributions will be made on June 30, 2017
to Series A Unitholders of record on June 30, 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
June 30, 2017. The cash distributions will be made on June 30, 2017
to Series C Unitholders of record on June 30, 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
June 30, 2017. The cash distributions will be made on June 30, 2017
to Series E Unitholders of record on June 30, 2017. As at the date hereof, there are an aggregate
of 4,000,000 Series E Units issued and outstanding.
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 March 31, 2017, Artis'
commercial property comprises approximately 25.4 million square feet of leasable area.
During the three months ended March 31, 2017, Property Net Operating Income ("Property NOI") by
asset class, including Artis' proportionate share of properties held in joint venture arrangements, was approximately 57.0%
office, 20.8% retail and 22.2% industrial. Property NOI by geographical region, including Artis' proportionate share of
properties held in joint venture arrangements, was approximately 4.8% in British Columbia, 28.0%
in Alberta, 6.3% in Saskatchewan, 12.9% in Manitoba, 10.5 % in Ontario, 7.9% in Arizona, 16.7% in Minnesota, 8.7% in Wisconsin and 4.2% 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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