Allied Properties Real Estate Investment Trust Announces Closing of Acquisition in Victoria
May 16 2011 - 7:39PM
Marketwired
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.
Contacts: Allied Properties REIT Michael R. Emory President and
Chief Executive Officer (416) 977-0643
memory@alliedpropertiesreit.com
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