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Allied Properties Completes $450-Million Green Bond Offering

Sherri M. Altshuler, Melanie Cole, Amy Marcen-Gaudaur, Annie (Zi An) Xie, Jacob B. Dubelaar, Ethan Eisen and Carol J. Burns

On February 24, 2025, 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 $450-million aggregate principal amount of 4.808% series K senior unsecured debentures.

The debentures were sold on an agency basis by a syndicate of agents co-led by Scotiabank, RBC Capital Markets and CIBC Capital Markets, and including BMO Capital Markets and TD Securities. Following the repayment of certain indebtedness, including its series C senior unsecured debentures, Allied Properties intends to use the net proceeds of the offering toward the financing and/or refinancing of Eligible Green Projects, in line with Allied Properties’ Green Financing Framework.

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

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