Allied Properties Real Estate Investment Trust Announces Closing of Toronto Acquisitions
16 Avril 2012 - 10:37PM
Marketwired
Allied Properties REIT (TSX:AP.UN) announced today that it has
closed the previously announced acquisition of the following
properties:
Address Total Office Retail Parking
GLA GLA GLA Spaces
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57 Spadina Avenue 33,302 16,170 17,132 0
78 Spadina Avenue 0 0 0 45
80-82 Spadina Avenue 69,112 53,103 16,009 0
379 Adelaide Street West 36,125 36,125 0 0
383 Adelaide Street West 7,500 2,500 5,000 0
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Total 146,039 107,898 38,141 45
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The purchase price for the properties was $42 million.
Concurrently with closing, Allied placed mortgage financing on the
properties in the aggregate principal amount of $29 million for
terms ranging from two to three years, bearing interest at a
variable rate in reference to bankers' acceptance, currently 3.25%
per year on a blended basis, and payable as to interest only during
the terms.
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.
Contacts: Allied Properties REIT Michael R. Emory President and
Chief Executive Officer (416)
977-0643memory@alliedpropertiesreit.com
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