The REIT is buying an office and retail building at the intersection of the city’s CBD and Gastown neighborhood. : Allied Properties Real Estate Investment Trust, a Toronto-based owner, manager and developer of urban workspaces, is buying 375 Water St., a mixed-use building in Vancouver, Canada, and funding the acquisition with proceeds on a long-term basis from the sale of a non-managing undivided 50 percent interest in two fully stabilized properties from its Montreal portfolio. The closing is expected in the early part of the second quarter. Neither the sales price nor the seller of the property was released.