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TORONTO, Oct. 16, 2025 /CNW/ – Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (“Automotive Properties REIT” or the “REIT”) announced today the completion of its previously announced acquisition of a portfolio of three automotive dealership properties (the “Properties”) located at 2291, 2301 and 2311 Place Transcanadienne in Dorval, Québec, a suburb of Montréal, from a third party for a purchase price of $52.5 million.
The Properties consist of Subaru Des Sources, Honda Des Sources and Volkswagen Des Sources, which together comprise 140,693 square feet of gross leasable area situated on approximately nine acres of land. The Properties are located along a commercial corridor adjacent to the Trans-Canada Highway in close proximity to the Montréal-Pierre Elliott Trudeau International Airport. The Properties are tenanted by members of the Dilawri Group under triple-net leases with renewal rights.
The REIT funded the purchase price of the Properties through an interest-only $31.5 million vendor take-back mortgage with an affiliate of the vendor at an interest rate of 4.5% for a term of five years, with the balance funded by the REIT’s credit facilities, which the REIT expects to repay with a portion of the proceeds from its previously announced bought deal equity offering and concurrent private placement (the “Offering”) expected to close on or about October 23, 2025.
About Automotive Properties REIT
Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring income-producing automotive and other OEM dealership and service properties located in Canada and the United States. The REIT’s portfolio currently consists of 90 income-producing commercial properties, representing approximately 3.4 million square feet of gross leasable area, in metropolitan markets across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Québec in Canada, and Florida and Ohio in the United States. Automotive Properties REIT is the only public vehicle in Canada focused on consolidating automotive and OEM dealership and service real estate properties. For more information, please visit: www.automotivepropertiesreit.ca.
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects the REIT’s current expectations regarding future events and in some cases can be identified by such terms as “anticipates”, “will”, “would” and “expected”. Forward-looking information includes statements regarding the Offering, including the timing thereof and the use of proceeds therefrom. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the REIT’s control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the failure to successfully close the Offering on the terms described, or at all, and the factors discussed under “Risks and Uncertainties, Critical Judgments & Estimates” in the REIT’s Management’s Discussion & Analysis for the quarter ended June 30, 2025 (the “Q2 2025 MD&A) or in the REIT’s annual information form dated March 5, 2025 (including under “Risk Factors” therein), both of which are available under the REIT’s profile on SEDAR+ at www.sedarplus.ca. The REIT does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. This forward-looking information speaks only as of the date of this news release.
SOURCE Automotive Properties Real Estate Investment Trust
