WINNIPEG, Aug. 20 /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 $0.0875 per trust unit ("Unit") of Artis for the month of August, 2007. The cash distributions will be made on September 14, 2007 to unitholders of record on August 31, 2007.
As at the date hereof, there are an aggregate of 27,513,475 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, particularly in Alberta. 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. To date, Artis has acquired approximately $825 million of commercial property; approximately 17.4% in Manitoba, 10.4% in Saskatchewan, 69.0% in Alberta, and 3.2% in B.C. Artis owns 52 properties, comprising over 4.4 million square feet of leasable area (33.0% retail, 52.9% office and 14.1% 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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