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Allied Properties REIT To Acquire 47 Front St E

47 Front E in downtown Toronto, to be acquired by Allied Properties REIT, is home to Europe Bound

Allied Properties REIT has a conditional agreement to acquire 47 Front St E for $6.2M. Ownership of the 14,550 SF building, currently occupied by Europe Bound, will give Allied control of the properties from 35 to 49 Front St E, 230 feet of uninterrupted frontage on the south side of Front just east of St Lawrence Centre for the Arts.

Allied plans to redevelop 47 Front East for office use above grade and retail use at street level. The firm also said this week it's closed on the recently announced acquisition of a 1.1M SF Montreal property portfolio.