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Allied Properties REIT gets approval for normal course issuer bid

Allied Properties Real Estate Investment Trust obtained approval from the Toronto Stock Exchange to buy a maximum of 9,114,825 of its units under a normal course issuer bid.

The office REIT expects the bid to start Feb. 22 and end Feb. 21, 2019, or such earlier date as the repurchases are completed.

The company bought back 65,580 units at a weighted average price of C$34.81 apiece under its previous normal course issuer bid that expired Dec. 21, 2017.