Allied Properties Real Estate Investment Trust (TSE:AP.UN) has released an update.
Allied Properties Real Estate Investment Trust is set to expand its real estate portfolio by acquiring a significant ownership interest in the high-profile 400 West Georgia property in Vancouver and increasing its stake in Toronto’s 19 Duncan. The Vancouver property, anchored by prominent tenants such as Deloitte and Apple, will see Allied converting a mezzanine loan to a 90% interest, while in Toronto, Allied will boost its share to 95% through a loan conversion and a cash transaction. These strategic moves are part of Allied’s plan to optimize its asset base by divesting less strategic properties.
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