Date Closed

April 11, 2012

Lead Office

Toronto

Value

29.00 Million CAD

On April 11, 2012, Allied Properties Real Estate Investment Trust completed a public offering of 3,850,000 units (inclusive of 375,000 units issued pursuant to the exercise in full of the underwriters’ over-allotment option) at a price of C$26.00 per unit for gross proceeds of just over C$100 million. The units were offered on a bought deal basis by a syndicate of underwriters led by Scotia Capital Inc. and including RBC Dominion Securities Inc., CIBC World Markets Inc., BMO Nesbitt Burns Inc., TD Securities Inc., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., Canaccord Genuity Corp., Desjardins Securities Inc., and Dundee Securities Ltd. The net proceeds of the offering were used to fund a portion of the purchase price of the acquisition of 57 Spadina Avenue, 78 Spadina Avenue, 80-82 Spadina Avenue, 379 Adelaide Street West and 383 Adelaide Street West, Toronto (the “Portfolio”).

On April 16, 2012, Allied Properties Real Estate Investment Trust completed its acquisition of the Portfolio for a total purchase price of C$42 million. The Portfolio comprises 146,039 sq ft of leasable area located in the King West Central area of downtown Toronto. The purchase price for the property was partially settled by the placement of new mortgage financing on the subject properties with the Canadian Imperial Bank of Commerce totalling C$29 million.

McCarthy Tétrault LLP represented Canadian Imperial Bank of Commerce, with a team led by John Currie.