Allied Properties units fall after it reports Q4 loss and plan to raise $500M

The S&P TSX composite index screen at the TMX Market Centre in downtown Toronto is photographed on Friday, Nov.11, 2022. THE CANADIAN PRESS/ Tijana Martin

TORONTO — Units in Allied Properties Real Estate Investment Trust fell more than 20 per cent in early trading after it reported a loss of $1.01 billion in its latest quarter and announced plans to raise $500 million in an offering of units.

Units in the trust fell $3.56 or 25 per cent to $10.49 in morning trading on the Toronto Stock Exchange.

The fourth-quarter loss came as Allied recorded a $1.01-billion fair-value loss on investment properties and investment properties held for sale. The trust reported a loss of $257.7 million in the fourth quarter of 2024.

Rental revenue totalled $148.8 million, down from $155.1 million a year earlier.

Allied also announced plans to raise $150 million in a private placement of units and an additional $350 million in a marketed public offering of units. Proceeds from the financing will be used to reduce debt.

The move comes after Allied cut its monthly distributions to unitholders late last year to six cents per unit from 15 cents per unit.

This report by The Canadian Press was first published Feb. 11, 2026.