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Artis Real Estate Investment Trust Enters Into Agreement with Sandpiper Asset Management Inc.
Artis Real Estate Investment Trust Enters Into Agreement with Sandpiper Asset Management ...
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[{"type":"text","content":"\n \n \n \n Artis Real Estate Investment Trust Enters Into Agreement with Sandpiper Asset Management Inc.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n WINNIPEG, MB\n \n ,\n \n May 18, 2021\n \n /CNW/ - Artis Real Estate Investment Trust (\"Artis\" or the \"REIT\") (TSX: AX.UN) announced that it has entered into a services agreement with Sandpiper Asset Management Inc. (\"Sandpiper\") effective\n \n May 17, 2021\n \n (the \"Services Agreement\").\n \n \n \n \n \n \n \n \n \n \"Artis has been on a multi-year journey to determine the future of the REIT and we are extremely excited to now have a roadmap in place, which includes the enhanced governance, internal leadership and strategic direction that we believe will create long-term value for our owners,\" said\n \n Ben Rodney\n \n , Chair of the Board of Trustees of Artis. \"Our agreement with Sandpiper is an important milestone that enables us to pursue new investment opportunities that can generate above average risk adjusted returns within the public securities component of our broader basket of value investment options. This agreement provides Artis' unitholders with a unique opportunity to harness the experience of one of\n \n Canada's\n \n most successful and respected real estate activist investment brands and platforms. We look forward to the continued execution of our Business Transformation Plan as we build Artis into a best-in-class asset management and investment platform focused on value investing in real estate.\"\n \n \n In connection with Artis' Business Transformation Plan announced on\n \n March 10, 2021\n \n , Artis has engaged Sandpiper to provide certain services to support the REIT's strategy to acquire meaningful and influential active ownership positions in undervalued publicly-listed real estate entities. The material terms of the Services Agreement are as follows:\n \n \n \n \n Artis' Investment Mandate:\n \n \n \n \n Investments in equity securities of real estate companies or real estate investment trusts or ent...