TORONTO, ON — February 12, 2026 — Leads & Copy —
Allied Properties Real Estate Investment Trust (TSX:AP.UN) has announced the pricing and upsizing of its previously announced marketed public offering and concurrent private placement.
The offering now comprises an aggregate of 40,000,000 units of Allied at a price of $10.00 per unit for aggregate gross proceeds of $400,000,000, representing an increase from the initial offering size of approximately $350,000,000.
Allied has also entered into a subscription agreement with the Alberta Investment Management Corporation (AIMCo), on behalf of its clients, for 16,000,000 units at the offering price in connection with the private placement. Aggregate gross proceeds from the offering and private placement are expected to be approximately $560,000,000.
The offering is being conducted by a syndicate of underwriters led by Scotiabank, CIBC Capital Markets and RBC Dominion Securities Inc., and including ATB Cormark Capital Markets, BMO Capital Markets and TD Securities Inc. pursuant to the terms and conditions of an underwriting agreement to be entered into between the underwriters and Allied.
Allied has granted the underwriters a 30-day option to purchase up to an additional 15% of the number of units offered in the offering. Scotiabank, CIBC and RBC are acting as placement agents in connection with the private placement.
The offering and the private placement are contingent on the completion of the other and are expected to close concurrently on or about February 18, 2026. Completion of the offering and the private placement remain subject to customary closing conditions, including the listing of the units on the Toronto Stock Exchange and any required approvals of the TSX.
The units issued pursuant to the offering are being offered in each of the provinces and territories of Canada, pursuant to Allied’s short form base shelf prospectus dated December 16, 2025.
A preliminary prospectus supplement describing the terms of the offering has been filed with the securities regulatory authorities in each of the provinces and territories of Canada, and a final prospectus supplement relating to and describing the terms of the offering will be filed with the securities regulatory authorities in each of the provinces and territories of Canada.
The units to be issued pursuant to the private placement will be offered on a private placement basis pursuant to applicable prospectus exemptions in each of the provinces and territories of Canada and in such other jurisdictions outside of Canada and the United States as may be determined by Allied and the underwriters. The units issued under the private placement will not be qualified by a prospectus and will be subject to the statutory resale restrictions under applicable securities legislation.
The units being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.
Allied intends to use the net proceeds of the offering and the private placement to repay amounts outstanding under its operating line of credit, which will be drawn down to repay Allied’s $600,000,000 aggregate principal amount of 1.726% series H senior unsecured debentures due February 12, 2026.
The Base Shelf Prospectus and the Supplement are, and the Final Supplement will be (within two business days of the date hereof), accessible on SEDAR+ at www.sedarplus.ca.
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.
Source: Allied Properties Real Estate Investment Trust
