WINNIPEG, Dec. 16 /CNW/ - Artis Real Estate Investment Trust (TSX: AX.UN) ("Artis" or the "REIT") announced that its trustees have declared its regular monthly cash distribution of $0.09 per trust unit ("Unit") of Artis for the month of December, 2008. The cash distributions will be made on January 15, 2009 to Unitholders of record on December 31, 2008.
As at the date hereof, there are an aggregate of 33,010,461 Units and Class B exchangeable limited partnership units of AX L.P. issued and outstanding.
Artis is a growth-oriented real estate investment trust focused exclusively on commercial properties located in primary and growing secondary markets in western Canada. The REIT's goal is to provide Unitholders the opportunity to invest in high-quality western Canadian office, retail and industrial properties, as well as to provide monthly cash distributions that are stable, tax efficient, and growing over time.
Artis owns approximately $1.3 billion of commercial property, comprising approximately 6.5 million square feet of leasable area in 88 properties. Leasable area is approximately 29.7% in Manitoba, 7.6% in Saskatchewan, 56.6% in Alberta, and 6.1% in B.C.; by asset class the portfolio is 31.9% retail, 41.2% office and 26.9% industrial.
The REIT's Distribution Reinvestment Plan ("DRIP") allows unitholders to have their monthly cash distributions used to purchase trust units without incurring commission or brokerage fees, and receive bonus units equal to 4% of their monthly cash distributions. More information can be obtained at www.artisreit.com.
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