Toronto, Ontario, March 31, 2022 - Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (TSX: CHP.UN) announced today that it has closed the previously announced sale of six high-quality office properties in Toronto, Vancouver, and Montreal to Allied Properties Real Estate Investment Trust (“Allied”) (TSX: AP.UN).
Choice Properties made the strategic decision to focus its time and capital on the opportunities available in its core business of essential retail and industrial, growing residential platform and robust development pipeline.
About Choice Properties Real Estate Investment Trust
Choice Properties is a leading Real Estate Investment Trust that creates enduring value through the ownership, operation and development of high-quality commercial and residential properties.
We believe that value comes from creating spaces that improve how our tenants and communities come together to live, work, and connect. We strive to understand the needs of our tenants and manage our properties to the highest standard. We aspire to develop healthy, resilient communities through our dedication to social, economic, and environmental sustainability. In everything we do, we are guided by a shared set of values grounded in Care, Ownership, Respect and Excellence.
About Allied Real Estate Investment Trust
Allied is a leading operator of distinctive urban workspace in Canada’s major cities and network-dense UDC space in Toronto. Allied’s mission is to provide knowledge-based organizations with workspace and UDC space that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied’s vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.
Chief Financial Officer
t: (416) 628-7872 e: Mario.Barrafato@choicereit.ca