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    AP.UN — Allied Properties Real Estate Investment Trust News Story

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    Brief: Allied To Sell UDC Portfolio To KDDI Corporation For $1.35 Bln

    Picture of Allied Properties Real Estate Investment Trust logoAllied Properties Real Estate Investment Trust
    21/06/2023 10:48
    June 21 (Reuters) - Allied Properties Real Estate
Investment Trust  AP_u.TO :
    * ALLIED TO SELL UDC PORTFOLIO TO KDDI CORPORATION FOR $1.35
BILLION
    * ALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST: SALE IS
EXPECTED
TO CLOSE BEFORE END OF Q3 THIS YEAR
    * ALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST - WILL USE
APPROXIMATELY $1 BILLION OF PROCEEDS TO RETIRE DEBT
    * ALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST: SALE WILL
RESULT
IN RISE IN 2023 TAXABLE INCOME, REQUIRING CO TO PAY SPECIAL
DISTRIBUTION TO UNITHOLDERS
    * ALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST - WILL USE
BALANCE PROCEEDS TO FUND ITS UPGRADE&DEVELOPMENT ACTIVITY OVER
REMAINDER OF 2023 & INTO 2024

Source text for Eikon:  ID:nGNX9BHcHN 
Further company coverage:  AP_u.TO 

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