Allied to Sell UDC Portfolio to KDDI Corporation for $1.35 Billion
TORONTO, June 21, 2023 (GLOBE NEWSWIRE) -- Allied Properties Real Estate Investment Trust (“Allied”) (TSX: “AP.UN”) today announced that it has entered into an agreement to sell its network-dense, carrier-neutral, urban-data-centre (UDC) portfolio in Downtown Toronto (the “Portfolio”) to KDDI Corporation (“KDDI”) for $1.35 billion, $118 million above IFRS net asset value.
- TORONTO, June 21, 2023 (GLOBE NEWSWIRE) -- Allied Properties Real Estate Investment Trust (“Allied”) (TSX: “AP.UN”) today announced that it has entered into an agreement to sell its network-dense, carrier-neutral, urban-data-centre (UDC) portfolio in Downtown Toronto (the “Portfolio”) to KDDI Corporation (“KDDI”) for $1.35 billion, $118 million above IFRS net asset value.
- Allied has connected the properties through high-count, diverse fibre, enabling the Portfolio to support more telecommunication, cloud and content networks than any other data-centre portfolio in Canada.
- “With global data-centre operating capability, KDDI is an ideal successor owner-operator for our UDC portfolio,” said Michael Emory, Allied’s Founder and Executive Chair.
- “We’ll work closely with KDDI over the next 18 months to transition local expertise in relation to the portfolio.