Artis Real Estate Investment Trust
TSX : AX.UN

Artis Real Estate Investment Trust

September 16, 2014 17:00 ET

Artis Real Estate Investment Trust Announces Quarterly Cash Distributions

WINNIPEG, MANITOBA--(Marketwired - Sept. 16, 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 September 30, 2014. The cash distributions will be made on September 30, 2014 to Series A Unitholders of record on September 30, 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 September 30, 2014. The cash distributions will be made on September 30, 2014 to Series C Unitholders of record on September 30, 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 September 30, 2014. The cash distributions will be made on September 30, 2014 to Series E Unitholders of record on September 30, 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 approximately 25.6 million square feet of leasable area.

At June 30, 2014, actual year-to-date Property Net Operating Income ("Property NOI") by asset class was approximately 24.5% retail, 51.7% office and 23.8% industrial. Property NOI by geographical region was approximately 8.3% in British Columbia, 38.9% in Alberta, 5.6% in Saskatchewan, 12.2% in Manitoba, 12.4% in Ontario and 22.6% 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
    204.947.0453 (FAX)

    Artis Real Estate Investment Trust
    Mr. Jim Green
    Chief Financial Officer
    1.204.947.1250
    204.947.0453 (FAX)

    Artis Real Estate Investment Trust
    Ms. Heather Nikkel
    Director - Investor Relations
    1.204.947.1250
    204.947.0453 (FAX)
    www.artisreit.com