Allied Properties REIT (TSX:AP.UN) announced today that it has closed the
acquisition of the MacDonald Block (8-10 Bastion Square) in Victoria, a Class I
property with 32,485 square feet of gross leasable area and 10 surface parking
spaces. It is 93% leased to tenants consistent in character and quality with
Allied's tenant base, including the Auditor General of British Columbia. Built
in 1863, the building on the property was extensively restored and renovated in
the 1990s.


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.
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