Allied Properties originally specialized in former industrial and commercial properties (Class I) on the fringes of downtown cores, primarily in Toronto, Montreal, Vancouver, and Calgary. These so-called “bricks-and-beam” buildings often rent for up to 50% less than the central business district offices. It also runs data hotels for technology companies hosting communications hubs.
Income Investor
Sorry, you do not have access to this content.For the quarter ended March 31, Allied had a 2.8% increase in rental revenue, to $144.8 million, net operating income up 2%, to $84.6 million, and FFO up 5.1%, to $77.5 million excluding condo sales (up 4.3% to $0.605 per unit) and AFFO up 7.9% to $71.6 million (up 7.1% to $0.558 per unit) representing a payout ratio of 78.2%.- Gavin Graham