Allied Properties REIT (AP-UN-T) suffered a $499.34-million net loss in its fourth quarter ended Dec. 31, in large part due to a $425-million decline in rental property valuations in Toronto, Montreal, Calgary and Vancouver.
Its two primary tenants won’t start moving in for a few months, but Cadillac Fairview’s marquee 47-storey, 1.26-million-square-foot office tower at 160 Front St. W. in downtown Toronto is officially open for business.
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