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ALLIED Allied Announces First - Quarter Results TORONTO , APRIL 28 , 2021 Allied Properties Real Estate Investment Trust ( " Allied " ) ( TSX : “ AP.UN " ) today announced results for its first quarter ended March 31 , 2021. " Despite ongoing shut - downs across Canada , our operating and leasing momentum continued to accelerate in the first quarter , " said Michael Emory , President & CEO . " We collected 97.6 % of our rental revenue . Of the 2.4 % we deferred , we expect to collect 1.5 % under the Canada Emergency Rent Subsidy . Same - asset NOI and FFO per unit were in - line with the comparable ( pre - shut - down ) quarter last year , while AFFO per unit was up 3 % . The quarter once again confirmed that our team , our properties and our user - base are resilient . " OPERATIONS Gross monthly rent due in the first quarter was $ 169 million . 1.2 % of the total amount due derives from parking use , 8.3 % from retail use , 16 % from urban - data - centre ( UDC ) use and 74.5 % from office use . Allied collected 97.6 % of the total amount due in the quarter and afforded deferrals aggregating $ 4.0 million , primarily to storefront retail users , at least $ 2.5 million of which is expected to be paid pursuant to the Canada Emergency Rent Subsidy ( CERS ) . Management continues the process of scaling down its pandemic - related deferral program through extensive case - by - case discussions with Allied's storefront retail users , most of which are exceptionally well located in downtown Toronto . Accordingly , Allied recorded a smaller provision in the first quarter ( $ 241,000 ) , bringing the total provision in relation to deferrals to $ 3 million . Allied has not yet utilized any portion of the provision . LEASING In the second half of 2020 and thus far in 2021 , Allied experienced accelerating leasing momentum in both its urban - workspace portfolio and UDC portfolio . Most notably , Allied leased 22,447 square feet of space at 250 Front Street West in April of this year , bringing the leased area of that facility to 85.9 % and the leased area of its UDC portfolio to 93.8 % . 1