AP.UN Allied Properties Real Estate Investment Trust

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UNITED STATES OF AMERICA


Allied Properties REIT (TSX:AP.UN) announced today that it has closed its
previously announced offering of 3,830,000 units at a price of $23.50 per unit
for gross proceeds of just over $90 million. The units were qualified by a short
form prospectus dated August 4, 2011, and were underwritten by a syndicate of
underwriters led by Scotia Capital Inc. and including RBC Dominion Securities
Inc., CIBC World Markets Inc., BMO Nesbitt Burns Inc., TD Securities Inc.,
Canaccord Genuity Corp., National Bank Financial Inc., Desjardins Securities
Inc., Dundee Securities Ltd. and Macquarie Capital Markets Canada Ltd. 


Allied intends to use the net proceeds of the offering to fund a portion of the
purchase price for the acquisitions announced on July 21, 2011, and for general
trust purposes.


The REIT also announced that it has closed the following previously announced
acquisitions:




i.  388 Richmond Street West and 301 Markham Street, two commercial parking
    facilities in downtown Toronto; 
ii. The Roberts Block, 605-11th Avenue S.W., Calgary, a restored Class I
    property located in the Beltline district; and 
iii.The Metals Limited Building, 10190-104 Street N.W., Edmonton, a restored
    Class I property located in the downtown core. 



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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