ARTIS REAL ESTATE INVESTMENT TRUST ANNOUNCES $186.7 MILLION OF NEW MORTGAGE FINANCING AND PROVIDES UPDATE ON $121.7 MILLION OF CANADIAN ASSET SALES AND US$117.6

ARTIS REAL ESTATE INVESTMENT TRUST ANNOUNCES $186.7 MILLION OF NEW MORTGAGE FINANCING AND PROVIDES UPDATE ON $121.7 MILLION OF CANADIAN ASSET SALES AND US$117.6

WINNIPEG, MB, June 8, 2023 /CNW/ – Artis Real Estate Investment Trust (“Artis” or the “REIT”) (TSX: AX.UN) announced today that it has obtained new mortgage financing in the amount of $186.7 million and provided an update on property disposition activity since March 31, 2023.

Artis Real Estate Investment Trust Logo (CNW Group/Artis Real Estate Investment Trust)

The REIT executed the following transactions during the second quarter of 2023:

  • obtained new mortgage financing on previously unencumbered properties in the amount of $186.7 million;

  • closed on the previously announced sale of four properties in Canada for an aggregate sale price of $79.6 million and one property in the U.S. for US$28.9 million; and

  • following disclosure of Q1-2023 results on May 11, 2023, entered into unconditional agreements to sell one property in Canada for a sale price of $42.1 million and seven properties and one parcel of

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