Allied Properties REIT expands portfolio in Calgary
Taking advantage of niche market for older, unique buildings
By Mario Toneguzzi, Calgary Herald October 10, 2012
CALGARY — Just over two years ago Toronto-based Allied Properties Real Estate Investment Trust decided to expand its portfolio outside the borders of Ontario. The REIT, which focuses on a niche market of older inner-city buildings, started buying properties in Calgary. After the sale of the Calgary Chamber of Commerce and Demcor buildings close in November, the REIT’s Calgary portfolio will include 14 properties comprising 607,344 square feet. “We have an appetite for more,” said Tom Burns, Allied’s executive vice-president and chief operating officer who was in Calgary on Wednesday.“All our buildings are inner-city buildings. You’re not likely to see Allied in the suburbs in any city in the country...
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