About Allied Properties Real Estate Investment Trust

Allied Properties Real Estate Investment Trust operates as a real estate investment trust. The company focuses on Class I office properties. As of December 31, 2007, the company had 50 properties located in Toronto, 7 properties located in Winnipeg, 8 properties located in Montréal, 5 properties located in Québec City, and 1 property located in Kitchener fall within the Class I office category. Target Markets The company operates in five target markets: downtown Toronto, downtown and midtown Montréal, downtown Winnipeg, downtown Québec City, and downtown Kitchener. Downtown Toronto: This target market includes 13.2 million square feet of office inventory in three sub-markets, Downtown East (2.1 million square feet), Downtown West (9.2 million square feet) and King West (1.9 million square feet). Approximately half of the office inventory in this target market falls within the Class I category. Downtown and Midtown Montréal: This target market includes 17.7 million square feet of office inventory in three sub-markets, Downtown East (7.5 million square feet), Old Montréal (7.7 million square feet) and Mile End (2.5 million square feet). Approximately half of the office inventory in this target market falls within the Class I category. Downtown Winnipeg: This target market includes 1.8 million square feet of office inventory, principally in the Exchange District. Most of the office inventory in this target market falls within the Class I category. Downtown Québec City: This target market includes 1.5 million square feet of office inventory in the St. Roch office node. Most of the office inventory in this target market falls within the Class I category. Downtown Kitchener: This target market includes approximately 1 million square feet of existing and potential office inventory in the Warehouse District. Much of the office inventory in this target market falls within the Class I office category. Acquisitions 106 Front Street East, Toronto: In April 2007, the company purchased 106 Front Street East, a 34,497 square foot, four-storey, Class I office and retail property located on the north-west corner of Front Street and George Street in the Downtown East sub-market in Toronto. Cité Multimédia, Montréal: In April 2007, the company purchased a 955,564 square foot portfolio of seven office properties in Montréal comprised of: a 201,963 square foot office complex located at 50 and 80 Queen Street and 87 Prince Street; a 373,576 square foot office building located at 111 Duke Street; and a 380,025 square foot office complex located at 700 Wellington Street and 75 Queen Street. 45-55 Colborne Street, Toronto: In July 2007, the company purchased 45-55 Colborne Street, a 43,408 square foot, four-storey, Class I office property located on the south side of Colborne Street, west of Church Street in the St. Lawrence Market sub-market in Toronto. 555 College Street, Toronto: In September 2007, the company purchased 555 College Street, a 60,186 square foot, six-storey, Class I office property located on the south side of College Street, west of Bathurst Street, in the King West sub-market in Toronto. 36-40 Wellington Street East, Toronto: In November 2007, the company purchased 36-40 Wellington Street East, a 24,380 square foot, four-storey Class I office and retail property located on the north side of Wellington Street East, east of Yonge Street in the Downtown East sub-market in Toronto. 468, 478 and 496 Queen Street East, Toronto (Dominion Square): In November 2007, the company purchased 468, 478 and 496 Queen Street East, a 111,859 square foot property, comprised of seven integrated four-storey Class I office and retail structures located on the north side of Queen Street East, east of Parliament Street in the Downtown East sub-market in Toronto. Montréal Property: In November 2007, the company purchased the first of two parcels of land comprising the Montréal Property. This parcel of land is comprised of 2,134 square feet adjacent and ancillary to 425 Viger Avenue West and to the second parcel of land in the international district of downtown Montréal. 544 King Street West, Toronto: In January 2008, the company purchased 544 King Street West, a 20,000 square foot, two-storey brick and beam office and retail property located on the north side of King Street, west of Brant Street in the Downtown West submarket in Toronto. 1-9 Morrison Street, Toronto: In January 2008, the company purchased 1-9 Morrison Street, a 16,000 square foot, three-storey brick and beam office property located on the east side of Morrison Street, immediately to the north of 544 King Street West in the Downtown West sub-market in Toronto. 72 Victoria Street, Kitchener: In January 2008, the company purchased 72 Victoria Street, a 85,610 square foot, five-storey Class I office property located on the south-east corner of Victoria Street and Joseph Street in the Warehouse District of downtown Kitchener. Montréal Property: In February 2008, the company purchased the second of two parcels of land comprising the Montréal Property. This parcel of land is comprised of 2,632 square feet adjacent and ancillary to 425 Viger Avenue West and to the first parcel of land acquired by the REIT on November 27, 2007 in the international district of downtown Montréal. 179 John Street, Toronto: In March 2008, the company purchased 179 John Street, an eight-storey brick and beam Class I office building located on the east side of John Street, just north of Queen Street West in the Entertainment District sub-market of Toronto. 96 Spadina Avenue, Toronto: In March 2008, the company purchased 96 Spadina Avenue, a 91,215 square foot, nine-storey brick and concrete Class I office building located on the southwest corner of Spadina Avenue and Adelaide Street West in the Downtown West sub-market of Toronto. Significant Events In November 2009, the company has entered into agreements to purchase two properties in Toronto’s Downtown West, one in the Queen & Peter area and the other in the King & Spadina area. The property in the Queen & Peter area is 375-381 Queen Street West. History Allied Properties Real Estate Investment Trust was founded in 2002.