TORONTO, July 4 /CNW/ - Allied Properties REIT (TSX:AP.UN) announced today that its wholly owned subsidiary, Allied Properties Management Limited Partnership, has completed the previously announced acquisition of the property management business of Allied Canadian Corporation. The Limited Partnership will provide property management and related services to the REIT and to third-party owners of commercial real estate. Allied Properties REIT owns a portfolio of predominantly Class I office properties in downtown Toronto, downtown Montreal and downtown Winnipeg. The objectives of the REIT are to provide stable and growing cash distributions to its unitholders and to maximize unitholder value through the effective management and accretive growth of its portfolio.