Artis Real Estate Investment Trust

TSX : AX.UN


Artis Real Estate Investment Trust

April 15, 2014 17:00 ET

Artis Real Estate Investment Trust Announces Monthly Cash Distribution

WINNIPEG, MANITOBA--(Marketwired - April 15, 2014) - Artis Real Estate Investment Trust (TSX: AX.UN) ("Artis" or the "REIT") announced that its trustees have declared its regular monthly cash distribution of $0.09 per trust unit ("Unit") of Artis for the month of April, 2014. The cash distributions will be made on May 15, 2014 to Unitholders of record on April 30, 2014.

As at the date hereof, there are an aggregate of 127,718,832 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.

Contact Information

  • Artis Real Estate Investment Trust
    Mr. Armin Martens
    President and Chief Executive Officer
    1.204.947.1250

    Artis Real Estate Investment Trust
    Mr. Jim Green
    Chief Financial Officer
    1.204.947.1250

    Artis Real Estate Investment Trust
    Ms. Kirsty Stevens
    Chief Administrative Officer
    1.204.947.1250
    1.204.947.0453 (FAX)
    www.artisreit.com