WINNIPEG, MB, March 4,
2024 /CNW/ - Artis Real Estate Investment Trust
("Artis"), together with its joint actors, has increased its
position in Dream Office Real Estate Investment Trust ("Dream
Office REIT") (TSX: D.UN) to 16.76%.
According to Dream Office REIT's material change report dated
February 22, 2024 (the "MCR"), Dream
Office REIT completed a consolidation of its voting units,
including the Units (as defined below), on the basis of one
post-consolidation unit for every two pre-consolidation units (the
"Consolidation"). Unless otherwise specified, all unit numbers and
dollar amounts in this press release are presented on a
post-Consolidation basis.
As a result of purchases of REIT Units, Series A ("Units") of
Dream Office REIT, Artis, together with its joint actors, owns and
exercises control and direction over an aggregate of 3,173,306
Units, representing approximately 16.76% of the 18,929,933 issued
and outstanding voting units of Dream Office REIT as at
February 22, 2024 (as reported in the
MCR). Since June 27, 2023, the date
on which Artis's previous early warning report in respect of Dream
Office REIT was filed, and specifically between August 11, 2023, and March
4, 2024, Artis, together with its joint actors, acquired an
aggregate of 378,650 Units in the open market under the facilities
of the Toronto Stock Exchange, representing approximately 2% of the
current issued and outstanding voting units of Dream Office REIT
(collectively, the "Acquisitions"). The aggregate consideration
paid to acquire the Units that are the subject of the accompanying
early warning report filed by Artis is $7.29
million, being 378,650 Units at an average price of
$19.25 per Unit. Prior to the
Acquisitions, Artis, together with its joint actors, owned and
exercised control and direction over 5,589,319 Units (on a
pre-Consolidation basis), representing approximately 14.77% of
Dream Office REIT's issued and outstanding voting units (on a
pre-Consolidation basis and as reported in Dream Office REIT's
press release dated June 22,
2023).
The Units were acquired for investment purposes.
Artis and its joint actors may, from time to time, depending on
market and other conditions, increase or decrease their respective
beneficial ownership, control or direction over the securities of
Dream Office REIT through market transactions, private agreements,
or otherwise.
Dream Office REIT's head office is located at 30 Adelaide Street
East, Suite 301, Toronto, Ontario,
M5C 3H1.
Artis's head office is located at Suite 600, 220 Portage Avenue,
Winnipeg, Manitoba, R3C 0A5.
An early warning report will be filed by Artis in accordance
with applicable securities laws. For further information and to
obtain a copy of the early warning report filed by Artis, please
contact Heather Nikkel, Senior
Vice-President – Investor Relations and Sustainability of Artis at
(204) 947-1250.
Artis is a diversified Canadian real estate investment trust
with a portfolio of industrial, office and retail properties in
Canada and the United
States. Artis's vision is to become a best-in-class real
estate asset management and investment platform focused on value
investing.
SOURCE Artis Real Estate Investment Trust