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

TORONTO, ONTARIO -- (Marketwire) -- 08/02/12 -- Allied Properties REIT (TSX: AP.UN) announced today that it has closed the acquisition of the following property:

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

Contacts:
Allied Properties Real Estate Investment Trust
Michael R. Emory
President and Chief Executive Officer
[phone]
[e-mail]