Business & Finance
Business and Finance
Business and Finance
Fri, August 3, 2012
Thu, August 2, 2012 Allied Properties Real Estate Investment Trust Announces Closing of Acquisition of Class I Office Complex in Kitchener
August 02, 2012 17:55 ET
Allied Properties Real Estate Investment Trust Announces Closing of Acquisition of Class I Office Complex in Kitchener
TORONTO, ONTARIO--(Marketwire - Aug. 2, 2012) - Allied Properties REIT (TSX:AP.UN) announced today that it has closed the acquisition of the following property:
| Address | Total GLA | Office GLA | Retail GLA | Parking Spaces |
| Lang Tannery, Kitchener | 340,150 | 291,763 | 48,666 | 345 |
With the Lang Tannery, Allied now owns three key properties in the Kitchener's Warehouse District comprising over 500,000 square feet of GLA. The Warehouse District is rapidly becoming a critical technology and transportation hub for the surrounding region.
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.
