AP.UN Allied Properties Real Estate Investment Trust

Allied Properties REIT (TSX:AP.UN) reported that there has been only minimal
flood damage sustained in its portfolio in Calgary, which comprises 17
properties aggregating approximately 850,000 square feet of gross leasable area.
The City of Calgary will reportedly restore power into the downtown core at some
point later this week and all of Allied's properties will become fully
operational once power is supplied. Two properties, the Demcor Building and The
Burns Building, experienced flooding in their basements, remediation of which is
well underway. There have been no security issues whatsoever to report. Allied
does not anticipate any material impact on its business and has insurance in
place, which it anticipates will mitigate costs that may be incurred relating to
the flooding.


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. The actual results and
performance of Allied 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 Allied's Annual Information Form, which is
available at www.sedar.com. These cautionary statements qualify all
forward-looking statements attributable to Allied and persons acting on Allied's
behalf. Unless otherwise stated, all forward-looking statements speak only as of
the date of this press release and the parties have 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 Real Estate Investment Trust
Michael R. Emory
President and Chief Executive Officer
(416) 977-0643
memory@alliedreit.com

Allied Properties Real E... (TSX:AP.UN)
Historical Stock Chart
From Jun 2024 to Jul 2024

Allied Properties Real E... (TSX:AP.UN)
Historical Stock Chart
From Jul 2023 to Jul 2024