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BRIEF-Allied announces acquisition in Toronto's St. Lawrence market area
June 20, 2017 / 9:46 PM / 3 months ago

BRIEF-Allied announces acquisition in Toronto's St. Lawrence market area

June 20 (Reuters) - Allied Properties Real Estate Investment Trust-

* Allied announces acquisition in Toronto’s St. Lawrence market area

* Deal for $60 million

* Allied properties real estate investment trust - ‍“we do not expect to pursue either intensification opportunity in near term”​

* Allied Properties Real Estate Investment Trust - financed acquisition by utilizing portion of proceeds from most recent unsecured debenture financing

* Expects acquisition to be neutral to its ffo per unit at outset

* Allied Properties Real Estate Investment Trust - expects acquisition to become modestly accretive to ffo per unit during first 5 years of ownership

* Allied Properties Real Estate Investment Trust - property was free and clear of mortgage financing on closing Source text for Eikon: Further company coverage:

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