Automotive Properties REIT Completes $50 Million Equity Offering

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[{"type":"text","content":"\n\n\nAutomotive Properties REIT Completes $50 Million Equity Offering\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\nCanada NewsWire\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\nTORONTO, Oct. 23, 2025 /CNW/ - Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (the \"REIT\") announced today that it has closed its previously announced bought deal public offering of 3,070,000 units at a price of $11.11 per unit (the \"Offering Price\") to a syndicate of underwriters bookrun by TD Securities Inc. and Scotiabank for gross proceeds of approximately $34 million (the \"Public Offering\"). The REIT granted the syndicate of underwriters an over-allotment option, exercisable in whole or in part at any one time up to 30 days following closing of the Public Offering, to purchase up to an additional 460,500 units at the Offering Price.\nConcurrently with the Public Offering, the REIT has issued, at the Offering Price, 1,442,844 Units to a member of the Dilawri Group (\"Dilawri\") on a private placement basis for gross proceeds of approximately $16 million (the \"Concurrent Private Placement\" and, together with the Public Offering, the \"Offering\"). The REIT granted Dilawri an option to purchase up to an additional 216,427 units at the Offering Price in the event of, and up to the same proportion that, the underwriters exercise the over-allotment option in the Public Offering. Units sold pursuant to the Concurrent Private Placement will be subject to a statutory hold period of four months plus one day from the closing date of the Concurrent Private Placement.\nThe REIT intends to use the net proceeds from the Offering to repay indebtedness under its credit facilities, including the debt incurred to fund the cash portion of the previously announced acquisition of three automotive dealership properties in Dorval, Québec, and the balance, if any, will be used for general trust purposes.\nThe securities offered have not been, and will not be, registered under the United Sta...

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