Allied Properties REIT Closes $160 Million Private Placement of Units

Reuters
Feb 18
Allied Properties REIT Closes $160 Million Private Placement of Units

Allied Properties Real Estate Investment Trust said it closed a concurrent private placement in which it issued 16 million units at C$10.00 per unit to Alberta Investment Management Corporation (AIMCo), as part of a broader C$560 million financing. The units sold in the private placement were not qualified by a prospectus and are subject to statutory resale restrictions. Allied said it plans to use the net proceeds to repay amounts outstanding under its operating line of credit.

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