ARTIS REAL ESTATE INVESTMENT TRUST ANNOUNCES 18.77% OWNERSHIP, TOGETHER WITH ITS JOINT ACTORS, IN DREAM OFFICE REIT

WINNIPEG, MB, April 12, 2024 /CNW/ - Artis Real Estate Investment Trust ("Artis"), together with its joint actors, has increased its position in Dream Office Real Estate Investment Trust ("Dream Office REIT") (TSX: D.UN) to 18.77%.

As a result of purchases of REIT Units, Series A ("Units") of Dream Office REIT, Artis, together with its joint actors, owns and exercises control and direction over an aggregate of 3,553,206 Units, representing approximately 18.77% of the 18,929,933 issued and outstanding voting units, as reported in Dream Office REIT's material change report dated February 22, 2024 (the "MCR"). Since March 4, 2024, the date on which Artis's previous early warning report in respect of Dream Office REIT was filed, and specifically between March 6, 2024, and April 12, 2024, Artis, together with its joint actors, acquired an aggregate of 379,900 Units in the open market under the facilities of the Toronto Stock Exchange, representing approximately 2% of the current issued and outstanding voting units of Dream Office REIT (collectively, the "Acquisitions"). The aggregate consideration paid to acquire the Units that are the subject of the accompanying early warning report filed by Artis is $6.8 million, being 379,900 Units at an average price of $17.92 per Unit. Prior to the Acquisitions, Artis, together with its joint actors, owned and exercised control and direction over 3,173,306 Units, representing approximately 16.76% of Dream Office REIT's issued and outstanding voting units (as reported in the MCR).

The Units were acquired for investment purposes.

Artis and its joint actors may, from time to time, depending on market and other conditions, increase or decrease their respective beneficial ownership, control or direction over the securities of Dream Office REIT through market transactions, private agreements, or otherwise.

Dream Office REIT's head office is located at 30 Adelaide Street East, Suite 301, Toronto, Ontario, M5C 3H1.

Artis's head office is located at Suite 600, 220 Portage Avenue, Winnipeg, Manitoba, R3C 0A5.

An early warning report will be filed by Artis in accordance with applicable securities laws. For further information and to obtain a copy of the early warning report filed by Artis, please contact Heather Nikkel, Senior Vice-President – Investor Relations and Sustainability of Artis at [phone].

Artis is a diversified Canadian real estate investment trust with a portfolio of industrial, office and retail properties in Canada and the United States.  Artis's vision is to become a best-in-class real estate asset management and investment platform focused on value investing.

SOURCE Artis Real Estate Investment Trust

Mr. Samir Manji, President and Chief Executive Officer, Ms. Jaclyn Koenig, Chief Financial Officer or Ms. Heather Nikkel, Senior Vice-President - Investor Relations and Sustainability of Artis at [phone].