Allied Properties REIT: Allied Provides Update on Distributions

TORONTO, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Allied Properties Real Estate Investment Trust ("Allied") (TSX:AP.UN) today provided an update on distributions.

Through the sale of non-core assets in 2024 and 2025, Allied made progress in reducing the indebtedness it incurred to complete the last of its development projects, in several instances at full rather than partial ownership. The non-core sale process will continue in 2026.

Through a series of successful bond offerings, Allied improved its debt profile over the course of 2024 and 2025. With a view to reducing indebtedness and associated interest expense going forward, the Trustees of Allied have decided to reduce the monthly distribution to unitholders in December of 2025 and throughout 2026 by 60% to $0.06 per unit per month ($0.72 per unit annualized).

The Trustees have declared a distribution of $0.06 per unit for the month of December 2025, which will be payable on January 15, 2026, to unitholders of record as at December 31, 2025.

Cautionary Statements

This press release may contain forward-looking statements with respect to Allied, its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe", "plan" or "continue" or the negative thereof or similar variations. The actual results and performance of Allied discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, financing and interest rates, general economic and market conditions and other factors described under "Risks and Uncertainties" in Allied's most recent annual MD&A, as updated by quarterly reports, which are available at www.sedarplus.ca. These cautionary statements qualify all forward-looking statements attributable to Allied and persons acting on Allied's behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and, except as required by applicable law, Allied has no obligation to update such statements.

About Allied

Allied is a leading owner-operator of distinctive urban workspace in Canada's major cities. Allied's mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied's vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Cecilia C. Williams
President & Chief Executive Officer
[phone]
[e-mail]

Nanthini Mahalingam
Senior Vice President & Chief Financial Officer
[phone]
[e-mail]