Artis Real Estate Investment Trust Announces Quarterly Cash Distributions

  Artis Real Estate Investment Trust Announces Quarterly Cash Distributions

  Canada NewsWire

  WINNIPEG, March 15, 2018

WINNIPEG, March 15, 2018 /CNW/ - Artis Real Estate Investment Trust (TSX:
AX.PR.A) (TSX: AX.PR.E) (TSX: AX.PR.U) ("Artis" or the "REIT") announced that
its trustees have declared the following quarterly cash distributions:

  * $0.353875 per Series A preferred unit ("Series A Unit") of Artis for the
    quarter ending March 31, 2018. The cash distributions will be made on
    March 29, 2018 to Series A Unitholders of record on March 29, 2018. As at
    the date hereof, there are an aggregate of 3,450,000 Series A Units issued
    and outstanding.
  * $0.296875 per Series E preferred unit ("Series E Unit") of Artis for the
    quarter ending March 31, 2018. The cash distributions will be made on
    March 29, 2018 to Series E Unitholders of record on March 29, 2018. As at
    the date hereof, there are an aggregate of 4,000,000 Series E Units issued
    and outstanding.
  * On February 22, 2018, Artis announced that it has delivered formal notice
    to the holder(s) of its Series C preferred units (the "Series C Units")
    that, on March 31, 2018, the REIT will redeem all of the 3,000,000
    outstanding Series C Units at a price of US$25.328125 for each Series C
    Unit, being US$25.00 plus US$0.328125 in accrued and unpaid distributions
    thereon up to but excluding March 31, 2018.

Artis is a diversified Canadian real estate investment trust investing in
office, retail and industrial properties. Since 2004, Artis has executed an
aggressive but disciplined growth strategy, building a portfolio of commercial
properties in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and
select markets in the United States. As of December 31, 2017, Artis'
commercial property comprises approximately 24.8 million square feet of
leasable area.

During the three months ended December 31, 2017, Property Net Operating Income
("Property NOI") by asset class, including Artis' proportionate share of
properties held in joint venture arrangements, was approximately 53.6% office,
21.2% retail and 25.2% industrial. Property NOI by geographical region,
including Artis' proportionate share of properties held in joint venture
arrangements, was approximately 4.4% in British Columbia, 23.1% in Alberta,
6.7% in Saskatchewan, 14.3% in Manitoba, 12.2% in Ontario, 8.0% in Arizona,
17.6% in Minnesota, 9.1% in Wisconsin and 4.6% in U.S. – Other.

Property NOI is a non-GAAP measure. Artis calculates Property NOI as revenues
less property operating expenses such as utilities, repairs and maintenance
and realty taxes. Property NOI does not include charges for interest or other
expenses not specific to the day-to-day operation of the REIT's properties.

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

View original content:
http://www.newswire.ca/en/releases/archive/March2018/15/c3608.html

Mr. Armin Martens, President and Chief Executive Officer, Mr. Jim Green, Chief
Financial Officer or Ms. Heather Nikkel, Vice-President - Investor Relations
of the REIT at 1.204.947.1250

For further information: Mr. Armin Martens, President and Chief Executive
Officer, Mr. Jim Green, Chief Financial Officer or Ms. Heather Nikkel,
Vice-President - Investor Relations of the REIT at 1.204.947.1250

CO: Artis Real Estate Investment Trust

ST: Manitoba

NI: REL DIV
Press spacebar to pause and continue. Press esc to stop.