RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN), Allied Properties
Real Estate Investment Trust ("Allied") (TSX:AP.UN) and Diamond Corp.
("Diamond") have completed the acquisition of the Globe & Mail Lands (the
"Property") in Toronto's Downtown West. Currently the home of The Globe & Mail
Newspaper, the Property is comprised of 252,617 square feet of office space and
579 parking spaces, all set on 6.47 acres of land forming part of the large city
block bounded by Spadina, Front, Draper and Wellington Streets. 


The acquisition has established the basis for a joint venture (the "Downtown
West JV") between RioCan, Allied and Diamond, with each of RioCan and Allied
having an undivided 40% interest and Diamond having an undivided 20% interest.
RioCan has a beneficial ownership in the Downtown West JV of 43.9% including its
19.3% participation in Diamond's Whitecastle New Urban Fund 2. The joint-venture
partners intend to redevelop the Property as a mixed-use retail, office and
residential complex. 


About RioCan 

RioCan is Canada's largest real estate investment trust with a total
capitalization of approximately $13.9 billion as at September 30, 2012. It owns
and manages Canada's largest portfolio of shopping centres with ownership
interests in a portfolio of 338 retail properties containing more than 80
million square feet, including 49 grocery anchored and new format retail centres
containing 12.4 million square feet in the United States through various joint
venture arrangements as at September 30, 2012. RioCan's portfolio also includes
10 properties under development in Canada. For further information, please refer
to RioCan's website at www.riocan.com.


About Allied 

Allied 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. For further information, please refer
to Allied's website at www.alliedreit.com.


About Diamond 

Diamond, a Toronto-based land development company maintains a strong commitment
to developing high-quality, innovative and award-winning residential and mixed
use projects. Diamond Corp has established itself as a leader in progressive
city building in the Greater Toronto Area. As managers of the Whitecastle New
Urban Fund and the more recently launched Whitecastle New Urban Fund 2, Diamond
Corp is committed to the future of Canada's urban communities. For further
information, please refer to Diamond Corp's website at www.diamondcorp.ca.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Allied Properties Real Estate Investment Trust
Michael Emory
President and CEO
(416) 977-0643
memory@alliedreit.com
www.alliedreit.com


RioCan Real Estate Investment Trust
Edward Sonshine O.Ont., Q.C.
Chief Executive Officer
(416) 866-3018
www.riocan.com
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