Automotive Properties REIT Completes Acquisition of Tesla Collision Center Property in Columbus, Ohio for a Purchase Price of US$17.8 Million

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[{"type":"text","content":"\n\n\n\n Automotive Properties REIT Completes Acquisition of Tesla Collision Center Property in Columbus, Ohio for a Purchase Price of US$17.8 Million\n \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 Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n March 12, 2025\n \n\n /CNW/ - Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (\"Automotive Properties REIT\" or the \"REIT\") announced today the completion of its previously announced acquisition of a Tesla-tenanted collision center property (the \"Property\") in\n \n Dublin, Ohio\n \n , a suburb of\n \n Columbus\n \n , from a third party for a purchase price of approximately\n \n US$17.8 million\n \n .\n \n\n The Property consists of an approximately 94,000 square-foot Tesla collision service center facility that is situated on 6.32 acres of land located along a commercial corridor at 5600 Britton Parkway in\n \n Dublin\n \n , adjacent to a large retail shopping center. The Property is in close proximity to Interstate 270, an auxiliary interstate highway that forms a beltway loop freeway in the\n \n Columbus\n \n Metropolitan Area.\n \n\n The REIT funded the purchase price of the Property with cash on hand and by drawing on its revolving credit facilities.\n \n\n\n About Automotive Properties REIT\n \n\n\n Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring income-producing automotive and other OEM dealership and service properties located in\n \n Canada\n \n and\n \n the United States\n \n . The REIT's portfolio currently consists of 79 income-producing commercial properties, representing approximately 3.0 million square feet of gross leasable area, in metropolitan markets across\n \n British Columbia\n \n ,\n \n Alberta\n \n ,\n \n Saskatchewan\n \n ,\n \n Manitoba\n \n ,\n \n Ontario\n \n and Québec in\n \n Canada\n \n , and\n \n Ohio\n \n in\n \n the United States\n \n ...

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