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BRIEF-Allied announces acquisition in Toronto's St. Lawrence market area

Published 2017-06-20, 05:42 p/m
© Reuters.  BRIEF-Allied announces acquisition in Toronto's St. Lawrence market area
AP_u
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June 20 (Reuters) - Allied Properties Real Estate Investment Trust AP_u.TO -

* Allied announces acquisition in Toronto's St. Lawrence market area

* Deal for $60 million

* Allied properties real estate investment trust - "we do not expect to pursue either intensification opportunity in near term"

* Allied Properties Real Estate Investment Trust - financed acquisition by utilizing portion of proceeds from most recent unsecured debenture financing

* Expects acquisition to be neutral to its ffo per unit at outset

* Allied Properties Real Estate Investment Trust - expects acquisition to become modestly accretive to ffo per unit during first 5 years of ownership

* Allied Properties Real Estate Investment Trust - property was free and clear of mortgage financing on closing Source text for Eikon: ID:nCCNN5t9ha Further company coverage: AP_u.TO

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