WINNIPEG, MB, June 18,
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 20.75%.
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 3,932,476
Units, representing approximately 20.75% of the 18,949,474 issued
and outstanding voting units, as reported in Dream Office REIT's
management's discussion and analysis dated May 9, 2024. Since April
12, 2024, the date on which Artis's previous early warning
report in respect of Dream Office REIT was filed, and specifically
between April 16, 2024, and
June 18, 2024, Artis acquired an
aggregate of 379,270 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 $7.02
million, being 379,270 Units at an average price of
$18.51 per Unit.
The acquired Units were purchased in reliance on the normal
course purchase exemption set out in Section 4.1 of National
Instrument 62-104 - Take-Over Bids and Issuer Bids ("NI 62-104") on
the basis that such Units do not represent more than 5% of the
outstanding Units, the aggregate number of Units acquired in
reliance on this exemption with any joint actors within the last 12
months, when aggregated with acquisitions otherwise made by Artis
and its joint actors within the same 12-month period, does not
exceed 5% of the Units outstanding at the beginning of the 12-month
period, and the consideration paid for the acquired Units was not
in excess of the market price at the date of acquisition, as
determined in accordance with section 1.11 of NI 62-104, plus
reasonable brokerage fees or commissions actually paid.
Prior to the Acquisitions, Artis, together with its joint
actors, owned and exercised control and direction over 3,553,206
Units, representing approximately 18.77% of Dream Office REIT's
issued and outstanding voting units (as reported in Dream Office
REIT's material change report dated February
22, 2024).
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.
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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
