Artis announces closing of equity offering and exercise of underwriters'
option for gross proceeds of $69.1 million
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES/
WINNIPEG, Dec. 19, 2012 /CNW/ - Artis Real Estate Investment Trust (TSX:
AX.UN) ("Artis" or the "REIT") announced today that it has closed its
previously announced public offering (the "Offering") of trust units on a
bought deal basis through a syndicate of underwriters led by RBC Capital
Markets, CIBC, and Canaccord Genuity Corp. (the "Underwriters"). Artis
issued and sold an aggregate of 4,400,000 trust units ("Units") (inclusive of
400,000 Units issued pursuant to the exercise of the Underwriters' option) at
a price of $15.70 per Unit for gross proceeds to Artis of $69,080,000.
Artis intends to use the net proceeds from the Offering to fund future
acquisitions, for debt repayment and for general trust purposes, as more
particularly described in the prospectus supplement dated December 12, 2012.
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. Artis' commercial property comprises nearly 23.4 million square feet
of leasable area in 220 properties. Leasable area by asset class is
approximately 18.3% retail, 32.1% office and 49.6% industrial. The portfolio
is located 7.9% in British Columbia, 25.7% in Alberta, 5.1% in Saskatchewan,
15.4% in Manitoba, 16.0% in Ontario and 29.9% in the U.S.
The Toronto Stock Exchange does not accept responsibility for the adequacy or
accuracy of this press release.
For further information please contact Mr. Armin Martens, President and Chief
Executive Officer, Mr. Jim Green, Chief Financial Officer or Ms. Kirsty
Stevens, Chief Administrative Officer at 1.204.947.1250
SOURCE: Artis Real Estate Investment Trust
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CO: Artis Real Estate Investment Trust
NI: REL NEWSTK
-0- Dec/19/2012 13:26 GMT
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