Allied Properties Real Estate Investment Trust announces closing of $100 million public equity offering

About this update from Allied Properties Real Estate Investment Trust

[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES/\n\n\nTORONTO, April 12 /CNW/ - Allied Properties REIT (TSX:AP.UN) announced\ntoday that it has closed the previously announced offering of 4,825,000 units\nat a price of $20.75 per unit for gross proceeds of just over $100 million.\nThe units were qualified by a short form prospectus dated March 27, 2007, and\nwere underwritten by a syndicate led by Scotia Capital Inc.\n\n\nThe REIT intends to use the net proceeds of the offering to fund a\nportion of the purchase price for the recently announced acquisition of Cite\nMultimedia in Montreal. The acquisition is scheduled to close today.\n\n\nAllied Properties REIT is a leading provider of Class I office space in\nCanada, with portfolio assets in the urban areas of Toronto, Montreal,\nWinnipeg and Quebec City. The objectives of the REIT are to provide stable and\ngrowing cash distributions to unitholders and to maximize unitholder value\nthrough effective management and accretive portfolio growth.\n\n\n","length":1061,"tagName":"div"}]

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