Allied Properties Real Estate Investment Trust
TSX:AP.UN

Watchlist Manager
Allied Properties Real Estate Investment Trust Logo
Allied Properties Real Estate Investment Trust
TSX:AP.UN
Watchlist
Price: 13.28 CAD 2.63% Market Closed
Market Cap: 1.9B CAD

Allied Properties Real Estate Investment Trust
Investor Relations

Allied Properties Real Estate Investment Trust is a compelling narrative in the landscape of urban property markets. Born from a desire to transform underutilized spaces into vibrant community assets, Allied has established itself as a cornerstone in Canada’s real estate sector. The company specializes in revitalizing urban spaces, primarily focusing on office properties that are integral to the fabric of major Canadian cities. Their portfolio stretches across cities like Toronto, Montreal, Vancouver, and Calgary, encapsulating a wide array of architectural styles and historical significance. Allied's strategic emphasis on major urban centers offers it the advantage of a consistent, thriving clientele ranging from tech startups to established corporations, all seeking inspiring work environments.

At the heart of Allied’s strategy is its adeptness at appreciating the intrinsic value of urban cores. The company thrives by acquiring, developing, and managing distinctive urban properties that foster community and innovation. Allied generates revenue through leasing its creative office spaces, benefiting from long-term, stable cash flows. These spaces are not just about housing businesses; they are about creating environments where ideas can flourish, centered around properties with a blend of historic charm and modern functionality. Additionally, Allied is deeply committed to sustainability, often updating and retrofitting its properties with green technologies to enhance energy efficiency. This not only aligns with evolving urban policies but also attracts environmentally-conscious tenants, further solidifying Allied’s status as a leader in urban real estate.

Show more
Loading
AP.UN
S&P TSX Composite Index (Canada)
No Stocks Selected

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

Select Stock to Compare
Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 30, 2025
AI Summary
Q3 2025

Occupancy Progress: Allied missed its target to reach 90% occupancy by year-end but expects to achieve 90% leased area in 2026 as leasing momentum builds.

Leasing Momentum: The company saw its highest leasing expansion activity in five years, with an 81% conversion rate and growth in large-format and expansion deals.

Financial Headwinds: Higher interest expense and slower lease finalizations pressured results this quarter, though operating fundamentals and liquidity remained stable.

Disposition Pipeline: The asset disposition program was expanded, with proceeds from sales and loan repayments expected to total more than $500 million by mid-2026, all earmarked for debt reduction.

Potential Distribution Cut: Management is considering a possible distribution cut in 2026 to accelerate balance sheet strengthening, though no decision has been made yet.

Development Update: Major development and upgrade projects, including KING Toronto and M4 Vancouver, are on schedule for completion by the end of 2026, with strong pre-leasing.

Liquidity & Credit: Liquidity increased to $903 million this quarter, and the company maintained its investment-grade rating, with proactive steps taken to address upcoming debt maturities.

Key Financials
Leased Area
87.4%
Leasing Activity
882,000 sq. ft.
Conversion Rate (Leasing)
81%
Liquidity
$903 million
Unencumbered Portfolio
89%
Same-Asset NOI
0.2% up for the quarter
Disposition & Loan Proceeds
$500 million+ expected by mid-2026
Series N Debenture Issuance
$450 million at 4.6%, 6-year term
Development Proceeds (KING Toronto Condo Sales)
$240 million (Allied's share, expected late 2026–early 2027)
Other Earnings Calls

Management

Mr. Michael R. Emory
Founder & Executive Chair
No Bio Available
Ms. Cecilia Catalina Williams C.A., CPA
President, CEO & Trustee
No Bio Available
Ms. Nanthini Mahalingam CPA
Senior VP & CFO
No Bio Available
Ms. Anne E. Miatello
Senior VP, General Counsel & Corporate Secretary and Compliance Officer
No Bio Available
Mr. J.P. Mackay
Senior Vice President of National Operations
No Bio Available
Mr. Andrew Cooper
Vice President of Finance & Accounting
No Bio Available
Mr. Travis Vokey
Senior Vice President of Technology and Innovation
No Bio Available
Mr. David Doull
Senior Vice President, People and Brand
No Bio Available
Mr. Douglas Riches
Executive Vice President of Special Operations
No Bio Available
Mr. Jean-François Burdet
Senior Vice President of Montreal and Ottawa
No Bio Available

Contacts

Address
ONTARIO
TORONTO
134 Peter St Suite 1700
Contacts
+14169779002.0
alliedreit.com