08:40 AM EST, 03/05/2024 (MT Newswires) -- Artis Real Estate Investment Trust (AX-UN.TO) said Tuesday that it is implementing an automatic purchase plan as part of its previously announced normal course issuer bid.

The plan allows Artis to purchase units at times when the company is not active in the market due to self-imposed trading blackout periods.

This comes after Artis, together with its joint actors, said they had increased their position in Dream Office Real Estate Investment Trust (D-UN.TO) to 16.76%.

According to Dream Office REIT's Feb. 22 material change report, the REIT completed a consolidation of its voting units on the basis of one post-consolidation unit for every two pre-consolidation units.

As a result of purchases of Dream Office REIT Series A units, Artis and its joint actors owns and exercises control and direction over 3,173,306 units, representing about 16.76% of the issued and outstanding voting units of Dream Office REIT as of Feb. 22.

Since June 27, 2023, Artis and its joint actors acquired 378,650 units representing about 2% of Dream Office REIT's issued and outstanding voting units.

Prior to the acquisitions, Artis and its joint actors owned over 5,589,319 units on a pre-consolidation basis representing about 14.77% of Dream Office REIT's issued and outstanding voting units.