Allied Completes Acquisition of Ownership Interest in 400 West Georgia and Increased Ownership Interest in 19 Duncan

Allied Properties Real Estate Investment Trust ("Allied") (TSX: "AP.UN") today announced that it has completed the previously announced acquisition of a 90% ownership interest in 400 West Georgia Street in Vancouver and an increase in its ownership interest in 19 Duncan Street in Toronto from 50% to 95%.

About Allied

Allied is a leading owner-operator of distinctive urban workspace in Canada’s major cities. Allied’s mission is to provide knowledge-based organizations with workspace 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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael EmoryFounder & Executive Chair(416) [e-mail]

Cecilia C. WilliamsPresident & Chief Executive Officer(416) [e-mail]