Allied Properties REIT Completes Sale of Urban Datacentre Portfolio for $1.35 Billion
On August 16, 2023, Allied Properties Real Estate Investment Trust, a leading operator of distinctive urban workspace in Canada’s major cities, announced that it has completed the sale of its network-dense urban datacentre portfolio to a newly-formed Canadian subsidiary of Japanese telecommunications provider KDDI Corporation for $1.35 billion.
The portfolio was comprised of freehold interests in 151 Front Street West and 905 King Street West, and a leasehold interest in 250 Front Street West. The sale proceeds were used to retire debt and fund its upgrade and development activity.
Aird & Berlis advised Allied with a team led by Kyle Genga, Jacob Dubelaar and Ethan Eisen, and including Kristian Arciaga and Jennifer Glied-Goldstein (Real Estate), Margaret Nelligan, Sherri Altshuler and Melanie Cole (Corporate/Securities), Barbara Worndl and Angelo Gentile (Tax), Stephen Zolf (Competition), Eileen Costello (Land Use Planning), and Michael Horvat (Employment).
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Kyle is a practical, results-oriented lawyer with more than 25 years of commercial real estate experience.
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Jake is dedicated to providing exceptional client service on routine and complex commercial real estate transactions.
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Ethan is passionate about building close relationships with his clients while assisting them on complex real estate transactions.
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Norman is widely sought after for his wealth of knowledge and experience in negotiating complex commercial real estate transactions.
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Jennifer leverages her business acumen to support her clients’ complex real estate deals.
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With over 30 years of experience as a corporate and securities lawyer, Margaret provides reliable and incisive advice clients can use with confidence.
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Sherri earns the trust of her clients by adeptly managing complex and time-sensitive corporate finance transactions and by providing relevant, busines...
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Whether advising her clients on public and private financings, mergers and acquisitions or corporate commercial matters, Melanie takes a client-first ...
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Clients appreciate Barbara’s dedication to finding the most tax efficient structures for their business. She thrives on the complexities of tax ...
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Angelo is a natural problem solver and he applies this skill to resolve tax disputes on behalf of his clients.
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Stephen guides clients through the rapidly evolving regulatory environment governing the telecommunications and media industry in Canada.
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Michael guides his clients through their labour and employment law issues by providing them with practical solutions that balance their workplace issu...
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