Allied buying 6 office buildings from Choice for $794M

Allied Properties REIT president and CEO Michael Emory

RENX, March 7, 2022

Allied Properties REIT has an agreement to acquire six urban office properties comprising about 1.2 million square feet of space from Choice Properties REIT for $794 million.

Three of the buildings are in Toronto, one in Montréal and two in Vancouver.

Allied (AP-UN-T) says it will issue trust units to Choice Properties (CHP-UN-T) to finance 75 per cent of the purchase price (at $50.30 per unit) and provide a promissory note for the remaining 25 per cent. READ MORE >>