Westbank Corp. and Allied Properties
About Westbank Corp. and Allied Properties
Allied went public in 2003 for the express purpose of consolidating Class I workspace that was centrally located, distinctive and cost-effective. Five years later, it was necessary to add that Allied is in the business of intensifying underutilized land within its portfolio. A year later, it was necessary to add that Allied’s business includes owning and operating the largest internet exchange point in Canada and the fifth largest in North America. The ongoing consolidation, intensification and development that ensued was continuous, enabling Allied to evolve into a leading owner, manager and developer of (i) urban workspace in Canada’s major cities and (ii) network-dense urban data centres in Toronto.
The most important element of Allied’s business environment is urban intensification. Canadians are living, working, learning and playing downtown in greater numbers than ever before. Not only does this anchor Allied’s investment and operating focus, it provides the context within which it captures and creates value for its unitholders.
Urban intensification along with operating experience has had a three-fold impact on Allied. First, it has increased Allied’s sensitivity to design. Second, it has expanded Allied’s investment and operating focus from purely Class I properties to urban mixed-use properties. Finally, it has motivated Allied to enter into collaborative relationships with best-in-class real estate organizations having complementary expertise, especially in the context of urban mixed-use developments.
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