Allied Acquires Five Properties from GM Développement

On September 7, 2006 Allied Properties Real Estate Investment Trust completed the acquisition from GM Développement Inc. of five properties located in Quebec City's burgeoning Saint-Roch office area for a purchase price of $32.5 million.

Allied was represented by Gowling Lafleur Henderson LLP with a team that included Laurent Roy (real estate) and David Kierans and Pierre-André Hamel (financing), and Mike Smith and Marc McClean of Aird & Berlis LLP acted as corporate lawyers for Allied Properties REIT. GM Développement Inc. was represented by Ogilvy Renault LLP with a team that included Sébastien Boucher, Louis Roy and Jean-Nicolas Prévost (real estate) and Sébastien Gingras (tax).