Real Estate — August 2, 2012

Allied Properties Real Estate Investment Trust Announces Closing of Acquisition of Class I Office Complex in Kitchener

TORONTO, ONTARIO--(Marketwire - Aug. 2, 2012) - Allied Properties REIT (TSX:AP.UN) announced today that it has closed the acquisition of the following property:

Address Total
GLA		 Office
GLA		 Retail
GLA		 Parking Spaces
Lang Tannery, Kitchener 340,150 291,763 48,666 345

With the Lang Tannery, Allied now owns three key properties in the Kitchener's Warehouse District comprising over 500,000 square feet of GLA. The Warehouse District is rapidly becoming a critical technology and transportation hub for the surrounding region.

Allied Properties REIT is a leading owner, manager and developer of urban office environments that enrich experience and enhance profitability for business tenants operating in Canada's major cities. Its objectives are to provide stable and growing cash distributions to unitholders and to maximize unitholder value through effective management and accretive portfolio growth.

Contact Information

Allied Properties Real Estate Investment Trust
Michael R. Emory
President and Chief Executive Officer
(416) 977-0643
memory@alliedpropertiesreit.com

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