WINNIPEG, Nov. 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 $0.0875 per trust unit ("Unit") of Artis for the month of November, 2007. The cash distributions will be made on December 14, 2007 to Unitholders of record on November 30, 2007.
As at the date hereof, there are an aggregate of 31,861,391 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.
Including all owned and proposed acquisitions, Artis will own or have an ownership interest in approximately $1.1 billion of commercial property; the REIT's proportionate share will be approximately 6.3 million square feet of the total leasable area in 84 properties. Leasable area will be approximately 31.1% in Manitoba, 6.6% in Saskatchewan, 55.4% in Alberta, and 6.9% in B.C; by asset class the portfolio will be 31.4% retail, 43.3% office and 25.3% 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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