10:04 AM EDT, 10/07/2025 (MT Newswires) -- Allied Properties Real Estate Investment Trust (AP-UN.TO) Tuesday provided an update on its larger-scale leasing achievements in Montreal and Vancouver in recent months.

"To date, we've leased more vacant space in Montreal and Vancouver and in the Allied Modern segment of our portfolio," said Allied Properties executive chair Michael Emory.

"Velocity is beginning to increase in Toronto and the Allied Heritage segment, but the pace has been slower than expected over the course of the year, with the result that we won't achieve targeted occupied and leased area of 90% by year-end."

In Montreal, it said a large existing user expanded twice, initially for 15,000 square feet and subsequently for 100,233 square feet, both starting October 1 of this year, bringing its total area to 246,729 square feet. The building is now 86% leased.

In Vancouver, leasing the final four floors at 400 West Georgia is the company's priority for 2025. It said that Allied now owns M4 in its entirety and finalized a lease expansion of 26,112 square feet with Netflix, bringing Netflix' space at the building to 136,544 square feet.

The company said it appointed J.P. Mackay to the role of senior vice president and chief operating officer, and Gord Oughton to the role of senior vice president, National Leasing.

Shares of the company were last seen down 5.8% at $20.98 on the Toronto Stock Exchange.

Price: 20.95, Change: -1.32, Percent Change: -5.93