Allied Announces Closing of $560 Million Marketed Public Offering and Concurrent Private Placement

Executive Summary

• Allied Properties REIT closed a $560 million public offering of 56 million units at $10.00 per unit, plus a private placement of 16 million units to AIMCo.
• Gross proceeds total $560 million; net proceeds will be used to repay the company’s operating line of credit and refinance its $600 million senior debentures.
• The offering was underwritten by a syndicate led by Scotiabank, CIBC Capital Markets and RBC Capital Markets.

Key Details

• Units Issued – Public Offering: 56,000,000 units @ $10.00 each → gross proceeds of $560,000,000.
• Underwriters: Lead underwriters – Scotiabank, CIBC Capital Markets, RBC Capital Markets; additional participants – ATB Cormark Capital Markets, BMO Capital Markets, TD Securities Inc.
• Units Issued – Private Placement: 16,000,000 units sold to Alberta Investment Management Corporation (AIMCo) on behalf of its clients; not prospectus‑qualified and subject to resale restrictions.
• Offering Price: $10.00 per unit for both public and private portions.
• Use of Proceeds: Net proceeds will repay amounts outstanding under Allied’s operating line of credit, which was drawn down to refinance the company’s 1.726 % series H senior unsecured debentures (aggregate principal $600 million) as of February 12, 2026.
• Regulatory Note: Units are not and will not be registered under U.S. securities laws; they may not be offered or sold in the United States absent an exemption.

Notable Quotes

(No direct quotes were included in the release.)