Allied Announces Closing of Existing Urban Office Component of Jesta Group’s Place Gare Viger in Montréal
31 August 2021 - 4:27PM
Allied Properties Real Estate Investment Trust (“Allied”)
(TSX:AP.UN) announced today that it has completed the previously
announced acquisition of Gare Viger (also known as The Chateau) and
the adjacent developable land, representing the existing urban
office component of Jesta Group’s Place Gare Viger in
Montréal. The forward purchase of the urban office
building under construction is still expected to close in the
second half of 2022, subject to various conditions of closing.
About Allied
Allied is a leading owner, manager and developer
of (i) distinctive urban workspace in Canada’s major cities and
(ii) network-dense urban data centres in Toronto that form Canada’s
hub for global connectivity. Allied’s business is providing
knowledge-based organizations with distinctive urban environments
for creativity and connectivity.
Cautionary Statements
This press release may contain forward-looking
statements with respect to Allied, its operations, strategy,
financial performance and condition. These statements generally can
be identified by use of forward looking words such as “may”,
“will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or
“continue” or the negative thereof or similar variations. Allied’s
actual results and performance discussed herein could differ
materially from those expressed or implied by such statements. Such
statements are qualified in their entirety by the inherent risks
and uncertainties surrounding future expectations, including that
the forward purchase contemplated herein is completed. Important
factors that could cause actual results to differ materially from
expectations include, among other things, general economic and
market factors, competition, changes in government regulations and
the factors described under “Risk Factors” in Allied’s Annual
Information Form, which is available at www.sedar.com. These
cautionary statements qualify all forward-looking statements
attributable to Allied and persons acting on Allied’s behalf.
Unless otherwise stated, all forward-looking statements speak only
as of the date of this press release and Allied has no obligation
to update such statements.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Michael R. EmoryPresident and Chief Executive Officer(416)
977-0643memory@alliedreit.com
Cecilia C. WilliamsExecutive Vice President and Chief Financial
Officer(416) 977-9002cwilliams@alliedreit.com
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