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Press release from Marketwire

Allied Properties Real Estate Investment Trust Announces Closing of Calgary Acquisitions

Monday, April 18, 2011

Allied Properties Real Estate Investment Trust Announces Closing of Calgary Acquisitions16:05 EDT Monday, April 18, 2011TORONTO, ONTARIO--(Marketwire - April 18, 2011) - Allied Properties REIT (TSX:AP.UN) announced today that it has closed the following acquisitions:AddressTotal GLAOffice GLARetail GLABasement GLAParking Spaces119 – 6th Avenue S.W., Calgary62,70062,7000025129 – 8th Avenue S.W., Calgary8,4742,2885,3368503Total71,17464,9885,33685043Located adjacent to the Lougheed Building, which Allied acquired last year, the Telephone Building (119 – 6th Avenue S.W.) is a Class I property comprised of 62,700 square feet of GLA and 25 underground parking spaces. Located amidst well restored heritage properties on the Stephen Avenue Mall, the Bang & Olufsen Building (129 – 8th Avenue S.W.) is comprised of 8,474 square feet of GLA and three surface parking spaces. The properties are fully leased to tenants consistent in character and quality with Allied's tenant base, including Scotia Capital and Worley Parsons.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.FOR FURTHER INFORMATION PLEASE CONTACT: Michael R. EmoryAllied Properties REITPresident and Chief Executive Officer(416) 977-0643memory@alliedpropertiesreit.com