HANNAY REALTY ADVISORS IS PLEASED TO ANNOUNCE THE PURCHASE OF THE HUDSON’S BAY CENTER IN DENVER, COLORADO

Phoenix-based Hannay Realty Advisors (www.hannayra.com) is pleased to announce that it has acted as an advisor to ARTIS REIT (http://www.artisreit.com) and MDC Realty Advisors USA, Inc. on the purchase of Hudson’s Bay Center, a 172,912 square foot boutique Class A transit oriented office tower well-located in the heart of downtown Denver’s 16th Street Mall. This 20-story tower is 96% occupied by a variety of strong tenants and enjoys unrivalled access to Downtown Denver’s two vital light rail stops. The property was designed and built by the renowned architectural firm Skidmore, Owings & Merrill and boasts efficient 9,500 square foot floorplates and spectacular mountain views. This unique office tower fills a niche in Denver’s CBD for high profile, image conscious, small to midsize tenants seeking a truly Class A environment.

This is the 3rd asset in that past 12 months that Hannay has acted as an advisor to purchase assets in the Denver area. “We are very pleased to add this Class A asset to our growing portfolio in the Denver Market.  We are actively looking for future acquisition and co-investment opportunities in the Denver area and throughout the western US, with a focus on quality retail centers and core to core plus office properties”, said company president Craig Hannay. Hannay will provide the leasing and management services at the property, adding to Hannay’s growing management portfolio. Hannay’s Denver portfolio of office and retail properties under management is now over 5.0 million square feet.

ABOUT HANNAY REALTY ADVISORS

Hannay Realty Advisors is a 25-year old privately-owned commercial real estate services and investment firm based in Phoenix, Arizona.  The company currently manages approximately 11 million square feet of commercial properties with offices in Arizona, California, Colorado and Nevada.  Hannay’s unique ability to co-invest with its investors, when required, provides greater flexibility and additional opportunities for their acquisitions program.   Hannay’s management, and investment expertise in retail, office, and industrial properties makes them one of the industry leaders in the western United States.  Hannay Realty Advisors provides “Institutional Resources and Local Market Knowledge.”

The leasing and property management contact for Hudson’s Bay Center is Bruce Backstrom, Chief Operating Officer in Hannay Realty Advisors’ Denver office, (720) 399-1461.  For commercial real estate acquisition opportunities, the contact is Christopher Lacasse, at Hannay’s headquarters in Phoenix, Arizona, (602) 374-2000.

ABOUT ARTIS REIT

Artis REIT (TSX: AX.UN) is one of the largest diversified commercial real estate investment trusts in Canada.  Artis REIT’s management team has extensive experience in construction, development, and management of commercial and other properties in Canada and the United States. Over the last ten years, Artis has executive an aggressive but disciplined growth strategy, building a portfolio of office, retail and industrial properties in Canada and select U.S. markets with a major concentration in Western Canada.

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