Artis Press Release Summaries
This page contains Artis Press Release Summaries. Click on the Press Release Date to view the entire news release.
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| Press Release Date: | Jan 6, 2021 | |
| Excerpt from Press release: | Artis entered into a US$58 million joint venture development agreement with Nuveen Real Estate for a 561,000 square foot state-of-the-art industrial project in the Greater Phoenix Area, Arizona The REIT completed the sale of three non-core assets in December 2020: Strathcona Shoppers Centre, ASM America Headquarters Building and 1110 Pettigrew Avenue Artis sold seven properties and one parcel of development land during Q4-20 for aggregate sale prices of $187.2 million and US$32.5 million, exceeding the REIT’s IFRS fair values by $4.2 million and US$7.0 million, respectively Artis Real Estate Investment Trust (“Artis” or the “REIT”) (TSX: AX.UN) announced that it has entered into a new joint venture agreement with Nuveen Real Estate (“Nuveen”) for an industrial development project in the Greater Phoenix Area, Arizona, and provided an update on the REIT’s enhanced asset disposition program, including the recent sale of three non-core assets. Proceeds from these sales were used to fulfil the REIT’s commitment to strengthen its balance sheet and improve its credit profile. |
| Headline: | Artis Announces Renewal of Normal Course Issuer Bid |
| Press Release Date: | Dec 15, 2020 |
| Excerpt from Press release: | Artis Real Estate Investment Trust (“Artis” or the “REIT”) (TSX: AX.UN) announced today that it has received approval from the Toronto Stock Exchange (“TSX”) to renew its normal course issuer bid (the “Bid”) for a further year. Under the terms of the Bid, Artis may purchase up to 10% of the public float of trust units (“Units”) and preferred units (“Preferred Units”). A maximum of 25% of the average daily trading volume may be purchased by Artis on any one day under its normal course issuer bid, except where purchases are made in accordance with “block purchases” exemptions under applicable TSX policies. Purchases pursuant to the Bid will be made through the facilities of the TSX and/or alternative Canadian trading systems. Artis will pay the market price at the time of acquisition for any Unit or Preferred Unit purchased through the facilities of the TSX and/or alternative Canadian trading systems and all Units and Preferred Units acquired by the REIT under this Bid will be cancelled. The period of the normal course issuer bid will extend from December 17, 2020, to December 16, 2021, or an earlier date, should Artis complete its purchases. Additional information pertaining to Units and each series of Preferred Units is as follows: Symbol Public Float 10% of Public Float Average Daily Trading Volume 25% of Average Daily Trading Volume(1) AX.UN 101,603,961 10,160,396 313,387 78,346 AX.PR.A 3,361,200 336,120 3,648 1,000 AX.PR.E 3,797,730 379,773 4,898 1,224 AX.PR.I 4,865,540 486,554 4,402 1,100 (1) In cases where 25% of the average daily trading volume is less than 1,000, the daily purchase limit becomes 1,000 |
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