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Artis REIT to redeem series C preferred units

Artis Real Estate Investment Trust plans to fully redeem 3.0 million of its outstanding series C preferred units at roughly US$25.328125 apiece.

The diversified REIT said earlier that it will fund the redemption using net proceeds from its recently completed C$125 million bought-deal offering of series I preferred units.

The redemption date is March 31, and AST Trust Co. is the redemption agent.