WINNIPEG, Sept. 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 September 30, 2015. The cash distributions will
be made on September 30, 2015 to
Series A Unitholders of record on September
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
September 30, 2015. The cash
distributions will be made on September 30,
2015 to Series C Unitholders of record on September 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 September 30, 2015. The cash distributions will
be made on September 30, 2015 to
Series E Unitholders of record on September
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 26.0 million square feet of leasable area.
At June 30, 2015 actual
year‑to‑date Property Net Operating Income ("Property NOI") by
asset class was approximately 26.3% retail, 51.0% office and 22.7%
industrial. Property NOI by geographical region was
approximately 7.6% in British
Columbia, 37.2% in Alberta,
7.4% in Saskatchewan, 12.2% in
Manitoba, 10.4% in Ontario and 25.2% 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