/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
TORONTO, June 9, 2015 /CNW/ – Automotive Properties Real Estate Investment Trust (the “REIT”) announced today that the REIT has filed and obtained a receipt for a preliminary prospectus in respect of its initial public offering of trust units (the “Units”) with the securities regulatory authorities in each of the provinces of Canada. TD Securities Inc. and Canaccord Genuity Corp. are the co-lead underwriters and joint bookrunners in the offering.
The REIT has been formed as a growth-oriented real estate entity that will focus on owning and acquiring primarily income-producing automotive dealership properties located in Canada. On closing, the REIT's portfolio of 26 income-producing commercial properties will represent approximately 958,000 square feet of gross leasable area in Ontario, Saskatchewan, Alberta and British Columbia.
The preliminary prospectus has been filed with the securities regulatory authorities in each of the provinces of Canada, but has not yet become final for the purpose of a distribution of securities to the public and is still subject to completion or amendment. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province of Canada prior to the time a receipt for the final prospectus or other authorization is obtained from the securities commission or similar regulatory authority in such province. Copies of the preliminary prospectus are available on SEDAR at www.sedar.com.
Completion of the initial public offering of Units is subject to and conditional upon the receipt of all necessary approvals, including regulatory approvals. With the completion of its initial public offering, the REIT will be the only publicly listed vehicle in Canada exclusively focused on automotive dealership properties.
No securities regulatory authority has either approved or disapproved of the contents of this new release. The Units have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units in the United States.
About Automotive Properties Real Estate Investment Trust
Automotive Properties Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive dealership properties located in Canada.
Forward –Looking Statements
This press 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 “will” and “expected”. 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, failure to complete the initial public offering of Units of the REIT and related transactions, and the factors discussed under “Risk Factors” in the preliminary prospectus of the REIT dated June 9, 2015. 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.
SOURCE Automotive Properties Real Estate Investment Trust
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./ TORONTO, June 9, 2015 /CNW/ – Automotive Properties Real Estate Investment Trust (the “REIT”) announced…