Allied Properties REIT
AP.UN · TSX · reit
$216,080,000
Loan receivableKING Toronto loan (First, Second and Third KING Toronto Facilities) advanced to Westbank for the joint KING Toronto development. Balance includes $58,790K of accrued interest. Facility matures at the earlier of March 31, 2027 or the closing of the condominium units. An expected credit loss of $128,000K is recorded across the loans receivable as a whole and is not allocated to this loan.
Terms
- Instrument
- Loan receivable
- Principal / carrying balance
- $216,080,000
- Interest rate
- —
- Rate type
- floating
- Maturity
- Mar 31, 2027
- Term
- —
- Lien position
- unknown
- Counterparty
- Westbank
- Property / location
- Toronto, Ontario
- As of
- Dec 31, 2025
Security
Loan to fund Westbank's purchase of a 50% interest in the KING Toronto property and its construction costs. Allied's credit risk disclosure says its loans are typically subordinate to prior-ranking mortgages or charges where a construction facility exists. The specific security for this loan is not described.
Source excerpt
KING Toronto (1) March 31, 2027 $216,080 $181,123 ... Interest accrues on the Second KING Toronto Facility and the Third KING Toronto Facility at a rate of prime plus 8 00% per annum
Automatically extracted from a public filing. Verify every figure against the source document before transacting.