Allied Properties REIT (TSX:AP.UN) announced today that it has closed the
acquisition of 5455 Avenue de Gaspe, a Class I property with 527,395 square feet
of GLA, 150 underground parking spaces and 19,000 square feet of surplus land.
The property is 85% leased to a large number of generally small tenants on
shorter-term leases at low rents. While carrying 5455 de Gaspe as a rental
property, Allied plans to upgrade the building and the tenant-base with a view
to boosting the annual net operating income materially over a 36-month period.


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.
Allied Properties Real E... (TSX:AP.UN)
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