Allied Properties Real Estate Investment Trust announces closing of acquisition and completion of upward refinancing

About this update from Allied Properties Real Estate Investment Trust

[{"type":"text","content":"\n\n\n\n\nTORONTO, June 29 /CNW/ - Allied Properties REIT (TSX:AP.UN) announced\ntoday that it has closed the previously announced acquisition of 257 Adelaide\nStreet West, a Class I office property located in downtown Toronto.\nThe REIT also announced that it has completed the upward refinancing of\nthe first mortgage on 425-439 and 445-455 King Street West, Toronto. The new\nfirst mortgage has a term of 10-years, bears interest at 5.86% per annum and\ngenerated upward refinancing proceeds of approximately $7.9 million.\n\nAllied Properties REIT owns a portfolio of predominantly Class I office\nproperties in downtown Toronto, Montreal and Winnipeg. The objectives of the\nREIT are to provide stable and growing cash distributions to its unitholders\nand to maximize unitholder value through the effective management and\naccretive growth of its portfolio.\n\n\n\n","length":927,"tagName":"div"}]

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