Artis Real Estate Investment Trust Announces Voting Results from the 2019 Annual Meeting of Unitholders

WINNIPEG, June 13, 2019 /CNW/ - Artis Real Estate Investment Trust ("Artis" or the "REIT") (TSX: AX.UN) announced today the results of matters voted on at its annual meeting of unitholders held on June 13, 2019 (the "Meeting").

The total number of units represented by unitholders present in person or by proxy at the Meeting was 77,558,351, representing 54.26% of Artis' outstanding units.

Each of the nominees for election as trustee listed in the Management Information Circular dated May 7, 2019, was elected as trustee of Artis for the ensuing year to hold office from the close of the Meeting until the close of the next annual meeting of unitholders. Proxies were tabulated as follows:

All other matters set out in the Management Information Circular dated May 7, 2019, were approved by a majority of unitholders, including fixing the number of trustees at eight, the reappointment of Deloitte LLP as external auditor of the REIT and the advisory vote on executive compensation.

Final results on all matters voted on at the Meeting are available on Artis' SEDAR profile at www.sedar.com. 

Artis is a diversified Canadian real estate investment trust investing in office, retail and industrial properties. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and select markets in the United States. As of March 31, 2019, Artis' commercial property comprises approximately 25.1 million square feet of leasable area.

During the three months ended March 31, 2019, Property Net Operating Income ("Property NOI") by asset class, including Artis' proportionate share of properties held in joint venture arrangements, was approximately 52.8% office, 20.4% retail and 26.8% industrial. Property NOI by geographical region, including Artis' proportionate share of properties held in joint venture arrangements, was approximately 3.3% in British Columbia, 19.3% in Alberta, 6.3% in Saskatchewan, 13.2% in Manitoba, 11.6% in Ontario, 11.1% in Arizona, 19.7% in Minnesota, 8.5% in Wisconsin and 7.0% in U.S. – Other.

Property NOI is a non-GAAP measure. Artis calculates Property NOI as revenues less property operating expenses such as utilities, repairs and maintenance and realty taxes. Property NOI does not include charges for interest or other expenses not specific to the day-to-day operation of the REIT's properties.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release

SOURCE Artis Real Estate Investment Trust