Allied Properties REIT (TSX:AP.UN) today announced that its Trustees have
approved an increase in monthly cash distributions from $0.11 per unit ($1.32
per unit annualized) to $0.1133 per unit ($1.36 per unit annualized). The
increased monthly distribution will commence on January 15, 2013, payable to
unitholders of record on December 31, 2012. 


"Management and the Trustees support the two-fold objective of raising
distributions when and to the extent it is prudent to do so while simultaneously
reducing pay-out ratios," said Michael Emory, President and CEO. "Having made
steady progress in establishing the basis for above-average FFO and AFFO per
unit growth in the coming years, we're confident of our ability to meet this
two-fold objective in 2013."


Allied has demonstrated a strong and steady commitment to the balance sheet. The
decision of the Trustees to increase distributions was made in the context of
that commitment. In establishing Allied's distribution policy for 2013, the
Trustees took cognizance of the following ongoing objectives:




--  continuing the reduction of FFO and AFFO pay-out ratios going forward; 
    
--  maintaining conservative debt ratios; 
    
--  maintaining a high interest-coverage ratio; and 
    
--  maintaining a high degree of liquidity.



FFO and AFFO are not financial measures defined by International Financial
Reporting Standards ("IFRS"). Please see Allied's MD&A for a description of
these measures and their reconciliation to net income and comprehensive income
under IFRS, as presented in Allied's condensed interim consolidated financial
statements for the quarter ended September 30, 2012. These statements, together
with accompanying notes and MD&A, have been filed with SEDAR, www.sedar.com, and
are also available on Allied's web-site, www.alliedreit.com. 


This press release may contain forward-looking statements with respect to
Allied, its operations, strategy, financial performance and condition. These
statements generally can be identified by use of forward looking words such as
"may", "will", "expect", "estimate", "anticipate", intends", "believe" or
"continue" or the negative thereof or similar variations. Allied's actual
results and performance discussed herein could differ materially from those
expressed or implied by such statements. Such statements are qualified in their
entirety by the inherent risks and uncertainties surrounding future
expectations. Important factors that could cause actual results to differ
materially from expectations include, among other things, general economic and
market factors, competition, changes in government regulations and the factors
described under "Risk Factors" in the Allied's Annual Information Form which is
available at www.sedar.com. The cautionary statements qualify all
forward-looking statements attributable to Allied and persons acting on its
behalf. Unless otherwise stated, all forward-looking statements speak only as of
the date of this press release, and Allied has no obligation to update such
statements.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Allied Properties REIT
Michael R. Emory
President and Chief Executive Officer
(416) 977-9002
memory@alliedreit.com
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