Artis Real Estate Investment Trust Provides Update on 2020 Annual Unitholder Meeting
WINNIPEG, MB, June 11, 2020 /CNW/ - Artis Real Estate Investment Trust (TSX: AX.UN) ("Artis" or the "REIT") today announced that the REIT intends to hold its annual meeting of unitholders in September 2020.
Formal notice of the meeting, and further details as to how it will be conducted (in person or virtually) will be made available at a later date.
Artis is a diversified Canadian real estate investment trust investing in office, retail and industrial properties. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in Canada and the United States. As of March 31, 2020, Artis' commercial property comprises approximately 23.8 million square feet of leasable area.
During the three months ended March 31, 2020, Property Net Operating Income ("Property NOI") by asset class, including Artis' proportionate share of properties held in joint venture arrangements, was 46.8% office, 18.7% retail and 34.5% industrial. Property NOI by geographical region, including Artis' proportionate share of properties held in joint venture arrangements, was 2.7% in British Columbia, 16.5% in Alberta, 6.7% in Saskatchewan, 13.7% in Manitoba, 10.8% in Ontario, 10.0% in Arizona, 21.5% in Minnesota, 9.7% in Wisconsin and 8.4% in U.S. - Other.
Property NOI is a non-GAAP measure. Artis calculates Property NOI as revenues less property operating expenses such as utilities, repairs and maintenance and realty taxes. Property NOI does not include charges for interest or other expenses not specific to the day-to-day operation of the REIT's properties.
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
please contact Mr. Armin Martens, President and Chief Executive Officer, Mr. Jim Green, Chief Financial Officer, or Ms. Heather Nikkel, Vice-President - Investor Relations of the REIT at 1.204.947.1250
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