Allied Properties Real Estate Investment Trust Announces Closing of Acquisitions and Disposition of Non-Core Asset
February 16 2012 - 2:51PM
Marketwired Canada
Allied Properties REIT (TSX:AP.UN) announced today that it has closed the
acquisition of the following properties:
Total Office Retail
Address GLA GLA GLA Parking Spaces
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Leeson and Lineham Block, Calgary 30,481 25,305 5,176 4
Land Lease, The Chambers, Ottawa 211,861 195,991 15,870 144
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Total 242,342 221,296 21,046 148
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Allied announced the agreements to acquire these properties in November of last
year, along with an agreement to acquire the Westcoast Building in Calgary. On
completion of due-diligence, Allied elected not to proceed with the acquisition
of the Westcoast Building.
Allied also announced that it has closed the sale of 67 Richmond Street West in
Toronto. This was a non-core asset that had no ongoing strategic significance in
the context of Allied's portfolio.
Allied Properties REIT is a leading owner, manager and developer of urban office
environments that enrich experience and enhance profitability for business
tenants operating in Canada's major cities. Its objectives are to provide stable
and growing cash distributions to unitholders and to maximize unitholder value
through effective management and accretive portfolio growth.
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