Allied Properties Real Estate Investment Trust Announces Closing of Acquisitions and Disposition of Non-Core Asset

Allied Properties REIT (TSX:AP.UN) announced today that it has closed the
acquisition of the following properties:




                                     Total   Office   Retail                
Address                                GLA      GLA      GLA  Parking Spaces
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Leeson and Lineham Block, Calgary   30,481   25,305    5,176               4
Land Lease, The Chambers, Ottawa   211,861  195,991   15,870             144
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Total                              242,342  221,296   21,046             148
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Allied announced the agreements to acquire these properties in November of last
year, along with an agreement to acquire the Westcoast Building in Calgary. On
completion of due-diligence, Allied elected not to proceed with the acquisition
of the Westcoast Building.


Allied also announced that it has closed the sale of 67 Richmond Street West in
Toronto. This was a non-core asset that had no ongoing strategic significance in
the context of Allied's portfolio. 


Allied Properties REIT is a leading owner, manager and developer of urban office
environments that enrich experience and enhance profitability for business
tenants operating in Canada's major cities. Its objectives are to provide stable
and growing cash distributions to unitholders and to maximize unitholder value
through effective management and accretive portfolio growth.