ARTIS REAL ESTATE INVESTMENT TRUST ANNOUNCES A 14% STAKE, WITH ITS COMMON STAKEHOLDERS, IN DREAM OFFICE REIT

WINNIPEG, MB, June 22, 2022 /CNW/ – Artis Real Estate Investment Trust (“Artis”) has increased its position, along with its co-stakeholders, in Dream Office Real Estate Investment Trust (“Dream Office”) (TSX: D.UN) to 14.32% .

As a result of the purchase of REIT Units, Series A (“Units”) from Dream Office, Artis, together with partnerships managed by Sandpiper Group, owns and exercises control and direction of a total of 7 486,187 Units, representing approximately 14.32% of the 52,263,538 issued and outstanding Voting Units (as disclosed in Dream Office’s MD&A dated May 5, 2022). Between May 4, 2022and June 22, 2022, Artis has acquired 1,045,271 Units on the open market at the facilities of the Toronto Stock Exchange, representing approximately 2% of the currently issued and outstanding Voting Units (collectively, the “Acquisitions”). The aggregate consideration paid to acquire the units which are the subject of the attached alert report filed by Artis is $22.7 millioni.e. 1,045,271 Units at an average price of $21.76 per unit. Prior to the Acquisitions, Artis, together with its co-actors, owned and exercised control and direction of 6,440,916 Units, representing approximately 12.22% of the issued and outstanding Voting Units (as disclosed in the MD&A by Dream Office dated February 17, 2022).

The shares were acquired for investment purposes.

Artis and its co-actors may, from time to time, depending on market and other conditions, increase or decrease their respective beneficial ownership, control or direction of Dream Office securities through transactions on the market, private agreements or otherwise.

Dream Office is headquartered at 30 Adelaide Street East, Suite 301, Toronto, OntarioM5C 3H1.

Artis’ head office is located at Suite 600, 220 Portage Avenue, Winnipeg, MBR3C 0A5.

A red flag will be filed by Artis in accordance with applicable securities laws. For further information and to obtain a copy of the alert report filed by Artis, please contact Heather NikkelVice President – ​​Investor Relations and Sustainability of Artis at (204) 947-1250.

Artis is a diversified Canadian real estate investment trust that owns a portfolio of industrial, office and retail properties in Canada and United States. Artis’ vision is to build a premier asset management and investment platform focused on growing net asset value per unit and distributions for investors through value investing in real estate.

SOURCE Artis Real Estate Investment Trust

For further information: Mr. Samir Manji, President and CEO; Ms. Jaclyn Koenig, Chief Financial Officer or Ms. Heather Nikkel, Vice President – ​​Investor Relations and Sustainability of Artis at (204) 947-1250.