The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Artis announces closing of equity offering and exercise of underwriters' option for gross proceeds of $69.1 million

Wednesday, December 19, 2012

Artis announces closing of equity offering and exercise of underwriters' option for gross proceeds of $69.1 million08:26 EST Wednesday, December 19, 2012/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/WINNIPEG, Dec. 19, 2012 /CNW/ - Artis Real Estate Investment Trust (TSX: AX.UN) ("Artis" or the "REIT") announced today that it has closed its previously announced public offering (the "Offering") of trust units on a bought deal basis through a syndicate of underwriters led by RBC Capital Markets, CIBC, and Canaccord Genuity Corp. (the "Underwriters").  Artis issued and sold an aggregate of 4,400,000 trust units ("Units") (inclusive of 400,000 Units issued pursuant to the exercise of the Underwriters' option) at a price of $15.70 per Unit for gross proceeds to Artis of $69,080,000.Artis intends to use the net proceeds from the Offering to fund future acquisitions, for debt repayment and for general trust purposes, as more particularly described in the prospectus supplement dated December 12, 2012.Artis is a diversified Canadian real estate investment trust investing in office, industrial and retail properties. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in Canada and the United States, with a major focus on Western Canada. Artis' commercial property comprises nearly 23.4 million square feet of leasable area in 220 properties. Leasable area by asset class is approximately 18.3% retail, 32.1% office and 49.6% industrial. The portfolio is located 7.9% in British Columbia, 25.7% in Alberta, 5.1% in Saskatchewan, 15.4% in Manitoba, 16.0% in Ontario and 29.9% in the U.S.The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release.SOURCE: Artis Real Estate Investment TrustFor further information: For further information please contact Mr. Armin Martens, President and Chief Executive Officer, Mr. Jim Green, Chief Financial Officer or Ms. Kirsty Stevens, Chief Administrative Officer at 1.204.947.1250