Automotive Properties Real Estate Investment Trust (TSX:APR.UN) acquired 14,276 sq. ft. Automotive Dealership in Sorel-Tracy.
January 02, 2023
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Automotive Properties Real Estate Investment Trust (TSX:APR.UN) entered into agreement to acquire 14,276 sq. ft. Automotive Dealership in Sorel-Tracy on December 21, 2022. Simultaneously, Automotive Properties Real Estate Investment Trust (TSX:APR.UN) entered into agreement to acquire five other automotive dealership properties in Quebec. The aggregate purchase price of six automotive dealership properties in Quebec for approximately CAD98.5 million. Automotive Properties Real Estate Investment Trust will fund the purchase price of the Acquisitions through the increase by CAD 70 million to one of its credit facilities, cash on hand, which includes CAD18 million. Automotive Properties Real Estate Investment Trust has completed its due diligence in connection with the Acquisitions and expects to close the Acquisitions in January 2023, subject to customary closing conditions.
Automotive Properties Real Estate Investment Trust (TSX:APR.UN) completed the acquisition 14,276 sq. ft. Automotive Dealership in Sorel-Tracy on January 3, 2023.
Automotive Properties Real Estate Investment Trust (the REIT) is a Canada-based open-ended real estate investment trust. The REIT is focused on owning and acquiring primarily income-producing automotive dealership properties located in Canada. The REIT's portfolio consists of 77 income-producing commercial properties, representing approximately 2.9 million square feet of gross leasable area, on approximately 249 acres of land in metropolitan markets across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec. The REIT is a public vehicle, which is focused on consolidating automotive dealership real estate properties. Its properties include Porsche Centre Vancouver, Audi Sales Downtown Vancouver, Calgary BMW, Calgary Honda, Regina Honda, Dilawri Nissan Infiniti, Regina Hyundai, Tesla Edmonton, Go Mazda, Porsche Centre and Jaguar Land Rover Edmonton, McNaught Cadillac Buick GMC, St. James Volkswagen, Tesla KW, Guelph Hyundai, Wellington Motors, and others.
AUTOMOTIVE PROPERTIES REAL ESTATE INVESTMENT TRUST 
