WINNIPEG, Sept. 19, 2012 /CNW/ - Artis Real Estate Investment Trust ("Artis") (TSX: AX.UN) confirmed today that the holder(s) of $10,000,000 aggregate principal amount of its 7 Year 5.00% Series D Convertible Debentures ("Series D Debentures") elected to exercise the cash redemption right, which expired at 5:00 p.m. (Toronto time) today. The terms of the cash redemption right are set forth in a supplemental indenture to the trust indenture dated May 4, 2010 (the "Series D Trust Indenture").
As a result of the election, $10,000,000 aggregate principal amount of Series D debentures will be redeemed effective September 21, 2012. $7,000,000 aggregate principal amount of Series D Debentures will remain 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. Artis' commercial property comprises nearly 20.5 million square feet of leasable area in 198 properties. Leasable area by asset class is approximately 20.1% retail, 36.6% office and 43.3% industrial. The portfolio is located 9.2% in British Columbia, 28.4% in Alberta, 5.4% in Saskatchewan, 17.5% in Manitoba, 15.1% in Ontario and 24.4% in the U.S.
The Toronto Stock Exchange 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. Kirsty Stevens, Chief Administrative Officer