21-Jun-07

1

TourTourCitCitéé MultimMultiméédiadia

President & CEOPresident & CEOMichael EmoryMichael Emory

21-Jun-07

2

PresentersPresenters

Michael EmoryMichael EmoryPresident & CEO

Wayne JacobsWayne JacobsExecutive VP

Marianne O’LearyMarianne O’LearySenior VP, Real Estate Operations

Forward Looking StatementsForward Looking Statements

This presentation may contain “forward looking”information about future events or the REIT’s future

performance. This information, by its nature, is subject to risks and uncertainties that may cause actual

events or results to differ materially, including those described under the heading “Risks and Uncertainties”

in our most recently filed AIF. Material assumptions that underpin any forward-looking statements I make

include those described under “Forward Looking Disclaimer” in our MD&A for the first quarter of 2007.

This presentation may contain “forward looking”information about future events or the REIT’s future

performance. This information, by its nature, is subject to risks and uncertainties that may cause actual

events or results to differ materially, including those described under the heading “Risks and Uncertainties”

in our most recently filed AIF. Material assumptions that underpin any forward-looking statements I make

include those described under “Forward Looking Disclaimer” in our MD&A for the first quarter of 2007.

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REIT OverviewREIT Overview

FocusedFocused

OperatorOperatorO F F I C E

Major Canadian Urban CentresMajor Canadian Urban Centres

7Properties

7Properties

410,000Sq.Ft.

410,000Sq.Ft.

WinnipegWinnipeg7

Properties7

Properties

1.7MSq.Ft.1.7MSq.Ft.

MontrealMontreal5

Properties5

Properties

180,000Sq.Ft.

180,000Sq.Ft.

Quebec CityQuebec City

41Properties

41Properties

2.2 MSq.Ft.2.2 MSq.Ft.

TorontoToronto

Occupancy Solutions & Property ServicesOccupancy Solutions & Property ServicesMost Extensive Most Extensive

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Leading Our MarketLeading Our Market

Occupancy LevelsOccupancy Levels

Net Effective RentsNet Effective Rents

Turnover on MaturityTurnover on Maturity

HigherHigher

HigherHigher

LowerLower

MultimMultiméédiadiaCitCitéé

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Today’s AgendaToday’s Agenda

OverviewOverview

AreaArea

StructureStructure

AssetAsset

Market Market

Lease Lease

Cité MultimédiaCité MultimédiaIndustrial Structure Adapted to Office UseIndustrial Structure Adapted to Office Use

Constructed in 7 Phases

1999 - 2002

Constructed in 7 Phases

1999 - 2002Office

CampusOffice

Campus

Traditional Class-I

Attributes

Traditional Class-I

Attributes

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Cité MultimédiaCité MultimédiaIndustrial Structure Adapted to Office UseIndustrial Structure Adapted to Office Use

Class I Interior

Attributes

Class I Interior

Attributes

Very Competitive in its

Sub-market

Very Competitive in its

Sub-market

Divisible Floor Plates &

Abundant Parking

Divisible Floor Plates &

Abundant Parking

Cité MultimédiaCité MultimédiaLarge Divisible Floor Plates Large Divisible Floor Plates

IV IV

VV

VIVI

Floor Plate Size (Sq.ft)Floor Plate Size (Sq.ft)

35,000

20,000

22,500

37,000

PhasePhase

VIIVIIFLOOR PLANPHASE IV

FLOOR PLANPHASE V,VI,VII

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Cité MultimédiaCité MultimédiaAbundant Underground ParkingAbundant Underground Parking

Phase I, II & IIIPhase I, II & III

Phase IVPhase IV

Phase V, VI & VIIPhase V, VI & VII

TOTALTOTAL

Parking SpacesParking Spaces

225

450

782

107

Market OverviewMarket OverviewOld MontrealOld Montreal

Comprised largely of:Class I OfficeResidentialRetail

Successful urban neighbourhoods

Comprised largely of:Class I OfficeResidentialRetail

Successful urban neighbourhoods

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Montreal Office MarketMontreal Office Market

Atw

ater

De Maisonneuve

Sherbrooke

Côte des-Neiges

Ste-Catherine

Stanley

Peel

Guy

St-Antoine

University

Sherbrooke

Du P

arc

Ste-Catherine

Boul. St-Laurent

Saint-Denis Saint-H

ubert

Notre-Dame

AutorouteB

onaventure

DOWNTOWN WEST

FINANCIAL CORE

DOWNTOWN EAST

OLD MONTREAL7.6 M Sq.ft.7.6 M Sq.ft.

7.7 M Sq.ft.7.7 M Sq.ft.

25 M Sq.ft.25 M Sq.ft.

7.5 M Sq.ft.7.5 M Sq.ft.

Montreal Office MarketMontreal Office MarketVacancy RatesVacancy Rates

11.3811.3810.1710.17

9.549.54 9.519.5110.5410.54

9.629.62 8.388.38

15.2015.20

12.8612.86

8.278.27 8.028.02

20042004 20052005 20062006 Q1 2007Q1 2007

Financial CoreFinancial Core Downtown GenerallyDowntown Generally Old MontrealOld Montreal

8.808.80

(%)(%)

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Montreal Office MarketMontreal Office MarketShifting PreferencesShifting Preferences

Revitalized areas in and around Old MontrealAdditional impetus from:

Municipal urban-renewal projectsCaisse de Dépôtnew 600,000 sq.ft. head-office

Revitalized areas in and around Old MontrealAdditional impetus from:

Municipal urban-renewal projectsCaisse de Dépôtnew 600,000 sq.ft. head-office

Montreal Office MarketMontreal Office MarketBonaventure TransformationBonaventure Transformation

Aerial View Aerial View

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Lease StructureLease StructureRental RatesRental Rates

In-place rental rates above current market ratesExpect annual un-levered yield of ~7.6% over next 10 years

In-place rental rates above current market ratesExpect annual un-levered yield of ~7.6% over next 10 years

Principal Tenants Occupy 47% of GLAPrincipal Tenants Occupy 47% of GLA

www.alliedpropertiesreit.comwww.alliedpropertiesreit.com

Launching new bilingual websiteAppropriate to current scope of our business

Launching new bilingual websiteAppropriate to current scope of our business

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Executive Vice PresidentExecutive Vice PresidentWayne JacobsWayne Jacobs

Leasing AgendaLeasing Agenda

Montreal ApproachMontreal Approach

Tenant SolutionsTenant Solutions

Cité MultimédiaCité Multimédia

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Leasing StrategyLeasing Strategy

CommunityKey to

Leasing & MaintainingTenant Base

Key toLeasing & Maintaining

Tenant Base

Leasing StrategyLeasing Strategy

Enlisting brokerage community in target marketAccess to large and diverse sales group

Enlisting brokerage community in target marketAccess to large and diverse sales group

425 Viger Avenue West425 Viger Avenue West

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Leasing StrategyLeasing StrategyExclusive Listing with Montreal Real Estate GroupExclusive Listing with Montreal Real Estate Group

4446 St.Laurent Blvd4446 St.Laurent Blvd 6300 Avenue du Parc6300 Avenue du Parc

Tenants SolutionsTenants Solutions

Mile EndMile End

International DistrictInternational District

Boulevard Saint-LaurentBoulevard Saint-Laurent

Cité MultimédiaCité Multimédia

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Offering Flexibility to TenantsOffering Flexibility to TenantsCompetitive AdvantageCompetitive Advantage

Wide Size Range300 to 200,000 Sq.ft.

Wide Size Range300 to 200,000 Sq.ft.

Wide Range of Rental Rates

$10 to $30 Gross

Wide Range of Rental Rates

$10 to $30 GrossWide Range of Tenants

Wide Range of Tenants

Leasing at Cité MultimédiaLeasing at Cité Multimédia

In-Place & Market Rent Gap NarrowingIn-Place & Market Rent Gap NarrowingOccupancy Costs Will Remain StableOccupancy Costs Will Remain Stable

Three Pronged ApproachThree Pronged Approach

TENANTS TENANTS

Reposition & Relaunch Cité MultimédiaReposition & Relaunch Cité MultimédiaRevitalize & Generate Broker InterestRevitalize & Generate Broker InterestBROKERSBROKERS

Large Tenant Need for Additional SpaceLarge Tenant Need for Additional SpaceAttention to Our Lease RolloversAttention to Our Lease RolloversEXPANSIONEXPANSION

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Tenant Expansion RequirementsTenant Expansion Requirements

MotorolaMotorola

2007 2007

SAPSAP

2008 2008 2009 2009 2010 2010 2011 2011

22,459 sq ft22,459 sq ft

36,487 sq ft36,487 sq ft

13,000 sq ft13,000 sq ftVDL2VDL2

Total MediaTotal Media5,965 sq ft5,965 sq ft

3,922 sq ft3,922 sq ft

May 11, 2011May 11, 2011May 11, 2011 $16.74

$18.38

Oct. 31, 2010Oct. 31, 2010Oct. 31, 2010

Aug. 31, 2011Aug. 31, 2011Aug. 31, 2011

Nov. 30, 2009Nov. 30, 2009Nov. 30, 2009 $18.50

Sept. 2007Sept. 2007Sept. 2007

$22.36

$17.92

$18.12

Dec. 31, 2010Dec. 31, 2010Dec. 31, 2010

New Lease Old Lease

Tenant Expansion RequirementsTenant Expansion Requirements

MotorolaMotorola

2007 2007

SAPSAP

2008 2008 2009 2009 2010 2010 2011 2011

VDL2VDL2

Total MediaTotal Media

May 11, 2011May 11, 2011May 11, 2011 $16.74

$20.00

$20.00

Aug. 31, 2011Aug. 31, 2011Aug. 31, 2011

Sept. 30, 2012Sept. 30, 2012Sept. 30, 2012

Aug. 30, 2014Aug. 30, 2014Aug. 30, 2014

71,946 sq ft71,946 sq ft

IsacsoftIsacsoft$18.00 up to $20.50Aug. 31, 2011Aug. 31, 2011Aug. 31, 20113,500 sq ft3,500 sq ft

New Lease Old Lease

$17.92 - $22.36

9,630 sq ft9,630 sq ft

5,965 sq ft5,965 sq ft

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Cité Multimédia GrowthCité Multimédia Growth

All Leasing

Rates Equal to or Above In-Place Rents

Rates Equal to or Above In-Place Rents

to Date at to Date at

President Montreal Real Estate Group

President Montreal Real Estate Group

AndrAndréé PlourdePlourde

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Senior Vice President Real Estate OperationsSenior Vice President

Real Estate Operations

Marianne OMarianne O’’LearyLeary

Operational AgendaOperational Agenda

OperationalOperational

of Cité Multimédiaof Cité Multimédia

Cité Multimédia TeamCité Multimédia Team

TourTour

OverviewOverview

IntegrationIntegration

OurOur

OverviewOverview

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Approach to OperationsApproach to Operations

Deliver Deliver

Address Tenants NeedsAddress Tenants Needs

Valued Service

ComfortComfort

SecuritySecurity

ParkingParking

Tenant PrioritiesTenant Priorities

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Key InitiativesKey InitiativesAddressing Tenant NeedsAddressing Tenant Needs

Trained Staff in HVAC Systems

Trained Staff in HVAC Systems

Tiered Security Approach

Tiered Security Approach

Strong Parking Compliment

Strong Parking Compliment

Leveraging ExperienceLeveraging ExperienceSuccessful IntegrationSuccessful Integration

King West CentralKing West CentralCité Multimédia Cité Multimédia

960,000 Sq.ft. in 7 Buildings

960,000 Sq.ft. in 7 Buildings

550,000 Sq.ft. in 12 Buildings

550,000 Sq.ft. in 12 Buildings

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Leveraging ExperienceLeveraging ExperienceSuccessful IntegrationSuccessful Integration

King West CentralKing West CentralCité Multimédia Cité Multimédia

Office CampusesOffice CampusesCentralized Maintenance & SecurityCentralized Maintenance & Security

Underground ParkingUnderground Parking

Cité Multimédia IntegrationCité Multimédia Integration

Communication & ServicesCommunication & ServicesKey to Success of TransitionKey to Success of Transition

Integration Action PlanIntegration Action Plan

Create Transition

Plan

Create Transition

Plan

Secure On-site Staff

Secure On-site Staff

Meet Key SuppliersMeet Key Suppliers

Install Computer Systems

Install Computer Systems

Meet Tenants To Address Questions

Meet Tenants To Address Questions

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King West CentralKing West Central Cité Multimédia Cité Multimédia

Both Areas Visibly TransformedBoth Areas Visibly Transformed

Increased Demand for SpaceIncreased Demand for SpaceAttracting Established & Growing TenantsAttracting Established & Growing Tenants

Superior Tenant ServicesSuperior Tenant Services

Online real time dispatch of services

Maintenance & other requestsService delivery tracking

First implemented at Cité Multimédia

Online real time dispatch of services

Maintenance & other requestsService delivery tracking

First implemented at Cité Multimédia

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Our Management TeamOur Management Team

Alfred CereRegional Manager, Quebec

Alfred CereRegional Manager, Quebec

Jean-Francois BurdetDirecteur Immobilier for Cité Multimédia

Jean-Francois BurdetDirecteur Immobilier for Cité Multimédia

Michelle TremblayDirector, Transaction Management, Quebec

Michelle TremblayDirector, Transaction Management, Quebec

Our Services TeamOur Services Team

Cathy DranfieldSenior Property Administrator

Cathy DranfieldSenior Property Administrator

Pauline CyrSecurity ServicesPauline Cyr

Security Services

Franco CaronMaintenance Services

Franco CaronMaintenance Services

Suzanne OuelletteHead of Service CentreSuzanne OuelletteHead of Service Centre

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Montreal PortfolioMontreal Portfolio

Approx. 1.75 M sq. ft.18 people employedWell positioned to meet all tenant needsLeveraging our knowledge base & experience in new markets

Approx. 1.75 M sq. ft.18 people employedWell positioned to meet all tenant needsLeveraging our knowledge base & experience in new markets

SummarySummary

Successful Track Record ofSuccessful Track Record of

Asset AcquisitionAsset Acquisition

Strong & SuccessfulStrong & SuccessfulTenant FocusTenant Focus

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Tour OverviewTour Overview

Michael Emory, Al Cere& Cathy DranfieldMichael Emory, Al Cere& Cathy Dranfield

GroupsGroups

Phase IV

Tour Start LocationTour Start Location

11

Wayne Jacobs, Andre Plourde& Michelle TremblayWayne Jacobs, Andre Plourde& Michelle Tremblay Phase V22

Marianne O’Leary & Jean-FrancoisMarianne O’Leary & Jean-Francois Phase III33

Tour Completion 4pm-Meet in Lobby of Phase IV-Q & AMeet at Hotel, Cocktails 5:30pm

Dinner 6pm