07:38 AM EDT, 04/15/2024 (MT Newswires) -- Artis Real Estate Investment Trust (AX-UN.TO), said over the weekend that with its partners it raised its stake in Dream Office Real Estate Investment Trust (D-UN.TO).

As a result of purchases of REIT units, Series A of Dream Office REIT, Artis and its partners own and exercise control and direction over about 3.6 million units, or about 19% of the roughly issued and outstanding voting units.

Since March 4, the date on which Artis's previous early warning report in respect of Dream Office REIT was filed, and specifically between March 6 and April 12, Artis, together with its joint actors, bought 379,900 units in the open market under the facilities of the Toronto Stock Exchange, representing about 2% of the current issued and outstanding voting units of Dream Office REIT.

Artis paid $6.8 million, 379,900 units at an average price of $17.92 per unit. Before the acquisitions, Artis and its partners owned and exercised control and direction over about 3.2 million units, representing about 16.76% of Dream Office REIT's issued and outstanding voting units.