TORONTO, ONTARIO--(Marketwired - Aug. 31, 2016) - Allied Properties Real Estate Investment Trust ("Allied") (TSX:AP.UN) today announced that it has closed the acquisition of the following properties in Toronto (the "Properties") for $101 million:
| Address | Total GLA |
Office GLA |
Retail GLA |
Parking Spaces |
||||
| 461 King Street West | 81,091 | 43,771 | 37,320 | 35 | ||||
| 642 King Street West (Undivided 50% with RioCan) | 14,916 | 14,275 | 641 | 0 | ||||
| 47 Front Street East | 15,127 | 6,380 | 8,747 | 0 | ||||
| 111,134 | 64,426 | 46,708 | 35 |
Allied has completed $363 million in acquisitions thus far in 2016.
Allied 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. For further information, please refer to Allied's website at www.alliedreit.com.
Contact Information:
Michael Emory
President & CEO
(416) 977-0643
memory@alliedreit.com
Allied Properties Real Estate Investment Trust
Cecilia C. Williams
Vice President & CFO
(416) 977-9002
cwilliams@alliedreit.com
www.alliedreit.com