Allied Properties Real Estate Investment Trust Announces Closing of Acquisitions in Western Canada and Toronto

(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 08/15/11 -- Allied Properties REIT (TSX: AP.UN) announced today that it has closed the acquisition of the following properties:

Allied has completed or announced 19 acquisitions in 2011 for $350 million, 13 in Western Canada, five in Toronto and one in Montreal. Less than 12 months ago, Allied had no property west of Winnipeg. On closing of the remaining three previously announced acquisitions, Allied will own nine Class I or heritage properties in Calgary, two in Edmonton, three in Vancouver and one in Victoria with total rentable area of 910,495 square feet. When combined with Allied's properties in Winnipeg, they will comprise 13% of Allied's total rentable area, with Central Canada (Toronto and Kitchener) comprising 46% and Eastern Canada (Montreal and Quebec City) the remaining 41%.

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 Real Estate Investment Trust
Michael R. Emory
President and Chief Executive Officer
(416) 977-0643
(FAX)

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Bereitgestellt von Benutzer: MARKET WIRE
Datum: 15.08.2011 - 21:16 Uhr
Sprache: Deutsch
News-ID 46713
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TORONTO, ONTARIO

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Commercial Real Estate

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