TORONTO, May 12, 2020 (GLOBE NEWSWIRE) -- Allied Properties Real Estate Investment Trust (TSX:AP.UN)(“Allied”) announced today that it has launched an offering of $200 million (minimum) aggregate principal amount of series G senior unsecured debentures (the “Debentures”). The Debentures are being offered on an agency basis by a syndicate of agents led by Scotia Capital Inc., CIBC World Markets Inc. and TD Securities Inc. Allied intends to provide further details of the offering, including pricing information, when available.

Allied makes this offering pursuant to its base shelf prospectus dated November 19, 2019. The terms of the offering will be described in a prospectus supplement to be filed with Canadian securities regulators.

Allied intends to use the net proceeds of the offering to repay amounts drawn on its unsecured line of credit and for general trust purposes.

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 and its intended use of the net proceeds of the offering. 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. The actual results and performance of Allied 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 the effect of the global pandemic and consequent economic disruption. 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 the parties have no obligation to update such statements.

The Debentures being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Debentures in the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful.

For more information, please contact:

Michael Emory, President & CEO
(416) 977-0643
memory@alliedreit.com

Cecilia Williams, Executive Vice President & CFO
(416) 977-9002
cwilliams@alliedreit.com