WINNIPEG, June 19, 2015 /CNW/ - Artis Real Estate Investment Trust ("Artis" or the "REIT") (TSX: AX.UN) announced the results of the voting held at its June 18, 2015 annual meeting of unitholders (the "Meeting").
The total number of units represented by unitholders present in person or by proxy at the Meeting was 49,158,380, representing 35.84% of Artis' outstanding units.
Each of the nominee Trustees listed in the Management Information Circular dated May 1, 2015 was elected as a Trustee. Proxies were tabulated as follows:
|Name of Nominee||Votes For||% For||Votes Withheld||% Withheld|
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 25.9 million square feet of leasable area.
At March 31, 2015, actual year-to-date Property Net Operating Income ("Property NOI") by asset class was approximately 25.2% retail, 51.7% office and 23.1% industrial. Property NOI by geographical region was approximately 7.4% in British Columbia, 38.8% in Alberta, 5.7% in Saskatchewan, 12.3% in Manitoba, 10.9% in Ontario and 24.9% 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.
SOURCE Artis Real Estate Investment Trust
For further information:
please contact 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