Automotive Properties REIT Completes $23.2 Million Acquisition of Two Dealership Properties and a Vehicle Service Compound Facility in Edmonton

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[{"type":"text","content":"\n\n\n\nAutomotive Properties REIT Completes $23.2 Million Acquisition of Two Dealership Properties and a Vehicle Service Compound Facility in Edmonton\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, Dec. 1, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n\n\nTORONTO, Dec. 1, 2017 /CNW/ - Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (the \"REIT\") today announced that it has closed the previously-announced acquisition of a portfolio of three properties in Edmonton, Alberta, consisting of: the Ericksen Infiniti dealership property, the Southtown Hyundai dealership property, and the Kentwood Ford vehicle service compound (the \"Properties\"). The REIT acquired the Properties from a private third party. The addition of the Properties is expected to be accretive to the REIT's Adjusted Funds from Operations (\"AFFO\") on a per unit basis. The REIT has assumed the existing long-term triple-net leases on the Properties, each of which expires in June 2028. The REIT funded the $23.2 million purchase price through existing credit facilities and cash on hand.\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 38 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 futu...

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