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Allied Announces Acquisitions in Toronto, Calgary and Vancouver

May 1, 2019 By Globenewswire Tagged With: TSX:AP-UN.TO, TSX:AP.UN

TORONTO, May 01, 2019 (GLOBE NEWSWIRE) — Allied Properties Real Estate Investment Trust (“Allied”) (TSX:AP.UN) announced today that it has acquired or entered into firm agreements to acquire (i) ancillary residential properties in Toronto, (ii) an undivided 50% interest in the Sherwin Block, 738 11th Avenue SW, in Calgary, (iii) 2233 Columbia Street in Vancouver and (iv) 1050 Homer Street in Vancouver for total consideration of $94 million. “These are strategic acquisitions for Allied, in that we’re augmenting important assemblies in Toronto and Calgary and increasing our penetration in urban Vancouver,” said Michael Emory, President and CEO. “The Sherwin Block has become part of our expanding GM Glenbow assembly with First Capital. 2233 Columbia is our first acquisition in Mount Pleasant, and 1050 Homer is a premiere Class I building in Yaletown with significant expansion potential.”

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