05:24 PM EST, 12/02/2024 (MT Newswires) -- Allied Properties Real Estate Investment Trust (AP-UN.TO) after close Monday declared a distribution of $0.15 per unit for December, payable on Jan. 15, to unitholders of record on Dec. 31.

The REIT also confirmed Allied's 2025 distribution plan of $0.15 per unit per month, or $1.80 per year annualized.

Allied also provided an update on non-core property sales in 2024, having closed the sale of four non-core properties, three in Montreal and one in Toronto, for $75 million.

Allied is now scheduled to close by year-end the sale of three additional properties, the TELUS Sky reorganization in Calgary, The Chambers in Ottawa and 810 Saint-Antoine in Montreal, for $156 million.

The aggregate proceeds for 2024 are expected to be $231 million, ahead of the initial $200 million target, Allied's target for 2025 non-core sales will be approximately $170 million.