DBRS Rates Artis REIT’s Preferred Trust Unit Issue Pfd-3 (low)

DBRS has today assigned a rating of Pfd-3 (low) with a Stable trend to the Cumulative Five-Year Rate Reset Preferred Trust Units, Series E (Preferred Units) of Artis Real Estate Investment Trust (Artis or the Trust) for total proceeds of $100 million.

The Preferred Units will rank pari passu with every other series and will rank prior to Artis’s trust units as to the payment of distributions and return of capital in the event of liquidation, dissolution or winding-up of the Trust.

Artis will use the net proceeds from this offering to repay indebtedness, fund future acquisitions and for general trust purposes.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Real Estate Entities (April 2011), which can be found on our website under Methodologies.