WINNIPEG, Dec. 14,
2015 /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 December 31, 2015. The cash distributions will be
made on December 31, 2015 to Series A
Unitholders of record on December 31,
2015. 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
December 31, 2015. The cash
distributions will be made on December 31,
2015 to Series C Unitholders of record on December 31, 2015. 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 December 31, 2015. The cash distributions will be
made on December 31, 2015 to Series E
Unitholders of record on December 31,
2015. 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, industrial and retail
properties. Since 2004, Artis has executed an aggressive but
disciplined growth strategy, building a portfolio of commercial
properties in western Canada,
Ontario and select markets in the
United States. As of September 30,
2015, Artis' commercial property comprises approximately
26.2 million square feet of leasable area.
During the three months ended September 30, 2015, Property Net Operating Income
("Property NOI") by asset class, including properties held in joint
venture arrangements, was approximately 25.6% retail, 50.3% office
and 24.1% industrial. Property NOI by geographical region,
including properties held in joint venture arrangements, was
approximately 8.9% in British
Columbia, 35.5% in Alberta,
5.8% in Saskatchewan, 11.6% in
Manitoba, 10.2% in Ontario and 28.0% 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.
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