Choice Properties Real Estate Investment Trust Announces Strategic Sale of Six High-Quality Office Properties to Allied Properties Real Estate Investment Trust
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Monday, March 7, 2022
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Choice Properties Real Estate Investment Trust (Choice Properties or the Trust) (TSX: CHP.UN) announced today that it has entered into an agreement to sell six high-quality office properties in Toronto, Vancouver, and Montreal (the Portfolio) to Allied Properties Real Estate Investment Trust (Allied) for an aggregate purchase price of $794 million, excluding transaction costs (the Transaction).
Key Points:
- Choice Properties Real Estate Investment Trust (Choice Properties or the Trust) (TSX: CHP.UN) announced today that it has entered into an agreement to sell six high-quality office properties in Toronto, Vancouver, and Montreal (the Portfolio) to Allied Properties Real Estate Investment Trust (Allied) for an aggregate purchase price of $794 million, excluding transaction costs (the Transaction).
- Choice Properties currently holds an interest in 16 office properties representing 8% of the Trusts total portfolio.
- After the completion of the Transaction, Choice Properties will continue to hold an interest in 10 office properties representing approximately 4% of the Trusts total portfolio.
- 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.