|By Marketwired .||
|August 14, 2013 05:00 PM EDT||
WINNIPEG, MANITOBA -- (Marketwired) -- 08/14/13 -- Artis Real Estate Investment Trust ("Artis") (TSX:AX.UN) announced that its trustees have declared its regular monthly cash distribution of $0.09 per trust unit ("Unit") of Artis for the month of August, 2013. The cash distributions will be made on September 13, 2013 to Unitholders of record on August 31, 2013.
As at the date hereof, there are an aggregate of 126,127,847 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. Artis' commercial property comprises over 24.7 million square feet of leasable area in 232 properties. Property Net Operating Income ("Property NOI") by asset class is approximately 24.5% retail, 52.1% office and 23.4% industrial. Property NOI by geographical region is approximately 8.8% in British Columbia, 38.8% in Alberta, 6.0% in Saskatchewan, 12.3% in Manitoba, 12.3% in Ontario and 21.8% in the U.S.
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. Property NOI is a non-GAAP measure.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
Artis Real Estate Investment Trust
Mr. Armin Martens
President and Chief Executive Officer
Mr. Jim Green
Chief Financial Officer
Ms. Kirsty Stevens
Chief Administrative Officer