Automotive Properties Real Estate Investment Trust (TSX:APR.UN), which has entered into an agreement to sell 3.7 million units of the REIT on a bought deal basis at a price of $10.85 per unit, is looking for acquisitions. The company intends to use the net proceeds from the offering to reduce outstanding indebtedness under its credit facility, which may be subsequently redrawn and applied as needed to fund future acquisitions, and for general trust purposes.