Artis Real Estate Investment Trust Announces Quarterly Cash Distributions
March 17 2014 - 5:00PM
Marketwired
Artis Real Estate Investment Trust Announces Quarterly Cash
Distributions
WINNIPEG, MANITOBA--(Marketwired - Mar 17, 2014) - Artis Real
Estate Investment Trust
(TSX:AX.UN)(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, 2014. The cash distributions
will be made on March 31, 2014 to Series A Unitholders of record on
March 31, 2014. 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, 2014. The cash distributions
will be made on March 31, 2014 to Series C Unitholders of record on
March 31, 2014. 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, 2014. The cash distributions
will be made on March 31, 2014 to Series E Unitholders of record on
March 31, 2014. 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 nearly 25.0 million
square feet of leasable area.
At December 31, 2013, actual year-to-date Property Net Operating
Income ("Property NOI") by asset class was approximately 25.6%
retail, 50.5% office and 23.9% industrial. Property NOI by
geographical region was approximately 9.0% in British Columbia,
38.7% in Alberta, 6.9% in Saskatchewan, 12.3% in Manitoba, 13.2% in
Ontario and 19.9% 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 Officer1.204.947.1250204.947.0453Artis Real Estate
Investment TrustMr. Jim GreenChief Financial
Officer1.204.947.1250204.947.0453Artis Real Estate Investment
TrustMs. Kirsty StevensChief Administrative
Officer1.204.947.1250204.947.0453www.artisreit.com
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