Allied Properties REIT (TSX:AP.UN) announced today that it has closed the previously announced acquisition of the following property:


Address                               Total      Office     Retail   Parking
                                        GLA         GLA        GLA    Spaces
----------------------------------------------------------------------------
5445 de Gaspe Avenue, Montreal      502,693     502,693          -       150
----------------------------------------------------------------------------

The purchase price for the property was $34.5 million. Concurrently with closing, Allied placed mortgage financing on the property in the principal amount of $22.4 million for a term of three years, bearing interest at 3.76% per year and payable as to interest only during the term.

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.

Contacts: Allied Properties REIT Michael R. Emory President and Chief Executive Officer (416) 977-0643memory@alliedpropertiesreit.com

Allied Properties Real E... (TSX:AP.UN)
Historical Stock Chart
From Aug 2024 to Sep 2024 Click Here for more Allied Properties Real E... Charts.
Allied Properties Real E... (TSX:AP.UN)
Historical Stock Chart
From Sep 2023 to Sep 2024 Click Here for more Allied Properties Real E... Charts.