Allied Properties REIT acquires Phases I to VII of Cité du Multimédia

Pursuant to its public announcement, Allied Properties REIT completed the acquisition of seven office buildings in Montréal by the acquisition of the shares of the registered title holder from funds controlled by Hamburg-based MPC Münchmeyer Peterson Real Estate Consulting GmbH and advised by Northam Realty Advisors Ltd of Toronto. The seven office buildings are situated in Old Montréal and comprise a total of approximately 1,000,000 square feet of office space. The disclosed $242 million consideration was paid namely by obtaining approximately $62 million of mortgage financing from Hypothèques CDPQ Inc., a subsidiary of the Caisse de dépôt et placement du Québec. Hypothèques CDPQ Inc. was represented by Fasken Martineau DuMoulin LLP with a team led by Verna Cuthbert that included Stéphane Lalande and Isabelle Durand (real estate and corporate) and Jean-François Perreault and Étienne Gadbois (tax).