Allied Properties closes financings totalling $560M

Executive Summary

• Allied Properties Real Estate Investment Trust closed a $560 million capital raise consisting of a $500 million public offering and a $60 million concurrent private placement.
• The transaction involved the issuance of 72 million units at a price of $10.00 per unit.
• Net proceeds will be applied to repay amounts outstanding on the company's operating line of credit, which was drawn to retire $600 million in senior unsecured debentures.

Key Details

• Gross Proceeds: $560 million total ($500 million public offering + $60 million private placement)
• Public Offering Terms: 56 million units issued at $10.00/unit
• Private Placement Terms: 16 million units issued at $10.00/unit to Alberta Investment Management Corp. on behalf of its clients
• Underwriters: Syndicate led by Scotiabank, CIBC Capital Markets, and RBC Capital Markets; included ATB Cormark Capital Markets, BMO Capital Markets, and TD Securities Inc.
• Use of Proceeds: Repayment of operating line of credit balances, which were drawn on Feb. 12, 2026 to repay $600 million aggregate principal of 1.726% Series H senior unsecured debentures
• Regulatory Status: Public offering units qualified by a prospectus supplement dated Feb. 12, 2026 to the short form base shelf prospectus dated Dec. 16, 2025; private placement units are unqualified and subject to statutory resale restrictions
• Total Units Issued: 72 million units