Allied Properties Real Estate Investment Trust announces closing of acquisition of Cité Multimédia in Montreal

    TORONTO, April 18 /CNW/ - Allied Properties REIT (TSX:AP.UN) announced
today that it has closed the acquisition of Cité Multimédia, an urban office
complex in Old Montreal. This acquisition, which fits squarely within the
REIT's investment and operating focus, brings the gross leasable area of the
REIT's portfolio to over 4.5 million square feet, with the Toronto target
market accounting for 48%, the Montreal target market 39%, the Winnipeg target
market 9% and the Quebec City target market 4%.

    Allied Properties REIT is a leading provider of Class I office space in
Canada, with portfolio assets in the urban areas of Toronto, Montreal,
Winnipeg and Quebec City. The objectives of the REIT are to provide stable and
growing cash distributions to unitholders and to maximize unitholder value
through effective management and accretive portfolio growth.

For further information:

For further information: Michael R. Emory, President and Chief Executive
Officer, (416) 977-9002,

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