WINNIPEG, Oct. 15, 2015 /CNW/ - 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 October, 2015. The cash distributions will be made on November 13, 2015 to Unitholders of record on October 31, 2015.
As at the date hereof, there are an aggregate of 138,258,274 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 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
For further information: Mr. Armin Martens, President and Chief Executive Officer; Mr. Jim Green, Chief Financial Officer; or Ms. Heather Nikkel, Director - Investor Relations of the REIT at 1.204.947.1250