WINNIPEG, Aug. 17 /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 August, 2009. The cash distributions will be made on September 15, 2009 to Unitholders of record on August 31, 2009.
As at the date hereof, there are an aggregate of 33,508,365 Units 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.
Artis' commercial property comprises approximately 6.3 million square feet of leasable area in 83 properties. Leasable area is approximately 30.6% in Manitoba, 7.9% in Saskatchewan, 55.7% in Alberta, and 5.8% in B.C.; by asset class the portfolio is 31.4% retail, 41.0% office and 27.6% 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.