WINNIPEG, June 15, 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 June 30, 2015. The cash distributions will be
made on June 30, 2015 to Series A
Unitholders of record on June 30,
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
June 30, 2015. The cash distributions
will be made on June 30, 2015 to
Series C Unitholders of record on June 30,
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 June 30, 2015. The cash distributions will be
made on June 30, 2015 to Series E
Unitholders of record on June 30,
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 Canada and
the United States, with a major
focus on Western Canada. As
of today's date, Artis' commercial property comprises approximately
25.9 million square feet of leasable area.
At March 31, 2015,
actual year-to-date Property Net Operating Income ("Property NOI")
by asset class was approximately 25.2% retail, 51.7% office and
23.1% industrial. Property NOI by geographical region was
approximately 7.4% in British
Columbia, 38.8% in Alberta,
5.7% in Saskatchewan, 12.3% in
Manitoba, 10.9% in Ontario and 24.9% 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.
SOURCE Artis Real Estate Investment Trust