Artis Real Estate Investment Trust Announces Quarterly Cash Distributions
December 17 2013 - 5:00PM
Marketwired
Artis Real Estate Investment Trust Announces Quarterly Cash
Distributions
WINNIPEG, MANITOBA--(Marketwired - Dec 17, 2013) - Artis Real
Estate Investment Trust ("Artis")
(TSX:AX.PR.A)(TSX:AX.PR.U)(TSX:AX.PR.E) 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, 2013. The cash
distributions will be made on December 31, 2013 to Series A
Unitholders of record on December 31, 2013. 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, 2013. The cash
distributions will be made on December 31, 2013 to Series C
Unitholders of record on December 31, 2013. 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, 2013. The cash
distributions will be made on December 31, 2013 to Series E
Unitholders of record on December 31, 2013. 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, 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 approximately 24.8
million square feet of leasable area in 232 properties.
At September 30, 2013, actual year-to-date Property Net
Operating Income ("Property NOI") by asset class was approximately
26.0% retail, 50.1% office and 23.9% industrial. Property NOI by
geographical region was approximately 9.1% in British Columbia,
38.6% in Alberta, 7.3% in Saskatchewan, 12.4% in Manitoba, 13.3% in
Ontario and 19.3% 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.
Artis Real Estate Investment TrustMr. Armin MartensPresident and
Chief Executive Officer1.204.947.1250Artis Real Estate Investment
TrustMr. Jim GreenChief Financial Officer1.204.947.1250Artis Real
Estate Investment TrustMs. Kirsty StevensChief Administrative
Officer1.204.947.1250www.artisreit.com
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