Allied Properties REIT Takes Full Operational Control of KING Toronto From Westbank

Why It Matters

The takeover underscores how REITs can use financing tools to gain full ownership of landmark projects, mitigating risk for investors while ensuring timely delivery. For stakeholders, it signals Allied’s aggressive balance‑sheet management and its bet on mixed‑use and data‑center assets as growth drivers in a recovering Canadian real‑estate market.

Deal Summary

Allied Properties REIT announced it has assumed full operational control of the KING Toronto development, effectively acquiring Westbank’s stake in the project. The move follows a series of loan facilities and will result in Allied owning 100% of the project after loan repayment, with the deal value undisclosed.