(Source: RTT News)

Artis Real Estate Investment Trust (TSX: AX.UN) announced today that it has acquired a 50% interest in the Kincaid Building and the Cliveden Building in Metro Vancouver, British Columbia, with its partner, Kingswood Capital Corporation of Vancouver, British Columbia.

The REIT also announced that it has entered into agreements to acquire an industrial property in Saskatoon, Saskatchewan, a retail property in West Bank, British Columbia, and a flex/industrial property in Edmonton, Alberta.

The aggregate purchase price of the completed and announced acquisitions is approximately $72 million, with a weighted average capitalization rate of approximately 8.00%.

Read the full press release “Artis announces acquisition of $72 million of office, retail and industrial properties and a $50 million equity financing” in the RTT News (January 6, 2010).

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