Allied Properties Real Estate Investment Trust Announces Closing of Montreal Acquisition
April 17 2012 - 5:55PM
Marketwired
Allied Properties REIT (TSX:AP.UN) announced today that it has
closed the previously announced acquisition of the following
property:
Address Total Office Retail Parking
GLA GLA GLA Spaces
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5445 de Gaspe Avenue, Montreal 502,693 502,693 - 150
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The purchase price for the property was $34.5 million.
Concurrently with closing, Allied placed mortgage financing on the
property in the principal amount of $22.4 million for a term of
three years, bearing interest at 3.76% per year and payable as to
interest only during the term.
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)
977-0643memory@alliedpropertiesreit.com
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