Allied Provides UDC Portfolio Update, The Canadian Business Journal

This news release replaces the “designated news release ”.

TORONTO, Nov. 24, 2022 (GLOBE NEWSWIRE) — Allied Properties Real Estate Investment Trust (“Allied”) (TSX: “AP.UN”) today announced the sale of its Urban Data Center (UDC). I have confirmed that Portfolio of Toronto. Allied’s UDC portfolio is unburdened and does not include 20 York Street, the Union Center location. Scotiabank is acting as financial advisor to Allied in connection with this exploration.

Allied periodically reviews and evaluates strategic opportunities that management believes are in the best interest of Allied and its stakeholders. Allied has not entered into any specific transaction related to the UDC portfolio and there can be no assurance that current exploration will result in a decision to enter into any transaction.

As a matter of policy, Allied does not comment on unusual market activity, rumors or speculation, and only comments on material developments in accordance with relevant securities laws. Allied does not intend to make any further public announcements about potential transactions related to the UDC portfolio unless it determines that disclosure is required by applicable securities laws.

Notes

This press release contains forward-looking statements regarding (i) Allied, (ii) its operations, strategy, financial performance and condition, and (iii) the expected impact of the transactions discussed in this press release. may be These statements generally refer to future Identifiable by the use of prospective words, or their negative forms. or similar variations. Among other things, this news release contains forward-looking statements regarding potential transactions relating to the UDC portfolio.

Such statements are fully qualified by the inherent risks and uncertainties surrounding future expectations, including the completion of the transactions discussed herein and their expected impact on funding and earnings. increase. Important factors that could cause actual results to differ materially from those projected include, among other things, general economic and market conditions, competition, changes in government regulations and the Risk Factors section of Allied’s Annual Information Form. includes the factors listed in .sedar.com. These cautionary statements are limited to all forward-looking statements made by Allied and persons acting on Allied’s behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release, and Allied undertakes no obligation to update such statements.

About Allied

Allied is a leading operator of distinctive urban workspaces in major Canadian cities and network-dense UDC spaces in Toronto. Allied’s mission is to provide knowledge-based organizations with workspaces and his UDC spaces that are sustainable and conducive to human health, creativity, connectivity and diversity. Allied’s vision is to continuously contribute to cities and cultures that uplift and inspire all people.

Please contact us for more information.

Michael Emory
President and Chief Executive Officer
(416) 977-0643
[email protected]

CBJ Newsmaker