Allied Properties Real Estate Investment Trust

Allied Properties Real Estate Investment Trust

October 28, 2009 16:40 ET

Allied Properties Real Estate Investment Trust Announces Closing of Major Acquisition in Toronto's Downtown West

TORONTO, ONTARIO--(Marketwire - Oct. 28, 2009) - Allied Properties REIT (TSX:AP.UN) announced today that it has closed the acquisition of 151 Front Street West, Toronto, a Class I office property with 325,772 square feet of gross leasable area, 56 surface parking spaces and 750,000 square feet of approved intensification potential. Allied's Toronto portfolio is now comprised of 57 buildings and represents 56% of the total portfolio area of 5.9 million square feet, with Montreal representing 35%, Winnipeg 7% and Quebec City 3%.

Allied Properties REIT is the leading provider of Class I office space in Canada, with portfolio assets in the urban areas of Toronto, Montreal, Winnipeg, Quebec City and Kitchener. 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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