Automotive Properties REIT Agrees to Acquire Dealership Property in Kitchener-Waterloo, ON for $7.5 million

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[{"type":"text","content":"\n\n\n\nAutomotive Properties REIT Agrees to Acquire Dealership Property in Kitchener-Waterloo, ON for $7.5 million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Jan. 4, 2018\n\n\n\n− NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES −\n\n\n\nTORONTO, Jan. 4, 2018 /CNW/ - Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (the \"REIT\") today announced that it has entered into an agreement to purchase a dealership property in Kitchener-Waterloo, Ontario to be redeveloped for a luxury high-end car company that will occupy the premises. The REIT expects to invest approximately $7.5 million including the purchase price, redevelopment costs and related expenses. \n\nThe REIT intends to satisfy the purchase price through draws on its existing credit facilities. The REIT has completed its diligence in connection with this acquisition and closing is expected to occur in late February 2018, subject to customary closing conditions.  \n\nAbout Automotive Properties REIT Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive dealership properties located in Canada. Currently, the REIT's portfolio consists of 39 income-producing commercial properties representing approximately 1.4 million square feet of gross leasable area in metropolitan markets across Ontario, Saskatchewan, Alberta, British Columbia and Québec. Automotive Properties REIT is the only public vehicle in Canada focused on consolidating automotive dealership real estate properties. For more information, please visit: www.automotivepropertiesreit.ca. \n\nForward-Looking InformationThis 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 \"will\", \"anticipates\" and \"expected\". Forward-looking informa...

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