TORONTO real estate - A company that discovered its business strategy in adverse times, office landlord Allied Properties Real Estate Investment Trust offers a way to invest in the ongoing revitalization of city centres.
The largest owner of brick-and-beam office buildings in Canada, Allied has a portfolio of 69 character-filled low-rises in downtown Toronto, Montreal, Quebec City and Winnipeg.
"This is very clearly a long-term play on urbanization," said Neil Downey, managing director at RBC Dominion Securities, which has an "outperform" rating on the units. "There's also something to be said for a company that can survive tough times versus one that starts up when things are easy."
