Automotive Properties REIT Completes Acquisition of Dealership Property in Kitchener-Waterloo

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[{"type":"text","content":"\n\n\n\nAutomotive Properties REIT Completes Acquisition of Dealership Property in Kitchener-Waterloo\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, Feb. 13, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n\n\nTORONTO, Feb. 13, 2018 /CNW/ - Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (the \"REIT\") today announced that it has closed the previously-announced acquisition of a dealership property (the \"Property\") in Kitchener-Waterloo, Ontario. The Property will be redeveloped for a luxury, high-end car company that will occupy the premises. The purchase price, redevelopment costs and related expenses are expected to total $7.5 million, which the REIT will fund through its existing credit facilities. \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 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 disc...

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