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Allied Properties Completes $250-Million Offering of Senior Unsecured Debentures

Sherri M. Altshuler, Melanie Cole, Russell J. Sanders, Karlie Nordstrom , Annie (Zi An) Xie, Jacob B. Dubelaar, Ethan Eisen and Carol J. Burns

On September 26, 2024, Allied Properties Real Estate Investment Trust (TSX:AP.UN), a leading owner-operator of distinctive urban workspace in Canada’s major cities, completed a private placement of $250-million aggregate principal amount of 5.534% series J senior unsecured debentures.

The debentures were sold on an agency basis by a syndicate of agents co-led by Scotiabank and RBC Capital Markets and including BMO Capital Markets, CIBC Capital Markets, Desjardins Capital Markets and National Bank Financial Markets. Allied Properties intends to use the net proceeds of the offering to repay short-term, variable-rate indebtedness.

Aird & Berlis represented Allied Properties with a team that included Sherri Altshuler, Melanie Cole, Russell Sanders, Karlie Nordstrom and Annie Xie (Capital Markets), Jacob Dubelaar and Ethan Eisen (Real Estate) and Carol Burns (Tax).

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