20:47:13 EST Fri 09 Dec 2022
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Allied Properties Real Estate Investment Trus
Symbol AP
Shares Issued 127,955,983
Close 2022-11-24 C$ 26.90
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Allied Properties mulls sale of key Toronto portfolio

2022-11-24 09:49 ET - News Release

Mr. Michael Emory reports

ALLIED PROVIDES UPDATE ON UDC PORTFOLIO

Allied Properties Real Estate Investment Trust has confirmed that it is exploring the sale of its urban data centre (UDC) portfolio in Toronto. Allied's UDC portfolio is unencumbered and does not include 20 York St., the site for Union Centre. Scotiabank is acting as Allied's financial adviser in connection with this exploration.

Allied regularly reviews and evaluates strategic opportunities that management believes could be in the best interest of Allied and its stakeholders. Allied has not entered into an agreement to effect any particular transaction related to its UDC portfolio and there can be no assurance that the 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, rumours or speculation and only comments on material developments in accordance with relevant securities legislation. Allied does not intend to make any further public announcement about a potential transaction related to its UDC portfolio unless it determines that disclosure is required by applicable securities laws.

About Allied Properties Real Estate Investment Trust

Allied is a leading operator of distinctive urban workspace in Canada's major cities and network-dense UDC space in Toronto. Allied's mission is to provide knowledge-based organizations with workspace and UDC space that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied's vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.

We seek Safe Harbor.

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