Artis Real Estate Investment Trust entered into a conditional agreement to sell Park 8Ninety, an industrial property located in the Greater Houston Area, Texas. The REIT can confirm that it has entered into a condition agreement to sell Park 8 Ninety for USD 234.2 million, a premium to IFRS fair value at December 31, 2023, and representing a price per square foot of USD 128. The transaction is subject to routine closing conditions and is expected to close in the second quarter of 2024.

Park 8Ninety was developed in five phases between 2017 and 2022 and comprises 12 buildings that total 1,823,410 square feet of leasable area. The REIT will provide any additional updates as appropriate.