Artis Acquires $44.9 Million of Properties, Announces New Unconditional Agreements of $47.3 Million

WINNIPEG, Dec. 10, 2012 /CNW/ – Artis Real Estate Investment Trust (TSX: AX.UN) (“Artis” or the “REIT”) announced that it has recently acquired $44.9 million of industrial and retail properties in Western Canada and in Ontario’s Greater Toronto Area (the “GTA”), and has entered into unconditional agreements to acquire two additional Western Canadian properties for an aggregate of $47.3 million.

“2012 has been an active year for Artis, with approximately CAD$697 million and US$289 million of accretive acquisitions closed during the year, and several more deals tied up now, which we anticipate will close in 2013,” said Armin Martens, CEO of Artis REIT.  “However, contrary to recent news reports out of the U.S., we are not going firm on the acquisition of the IDS Center in downtown Minneapolis; the IDS Center is not a property Artis has under contract or Letter of Intent.”

See the full release HERE.