Business
Automotive Properties REIT Completes Acquisition of Three Automotive Properties in Dorval, Québec for a Purchase Price of $52.5 Million
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 portfolio of three automotive dealership properties (the "Properties") located at 2291, 2301 and 2311 Place Transcanadienne in Dorval, Québec, a suburb of Montréal, from a third party for a purchase price of $52.5 million.
About this update from Honda Motor Co., Ltd.
[{"type":"text","content":"− Not for distribution to U.S. News Wire Services or dissemination in the United States −","length":89,"tagName":"p","attribs":{}},{"type":"text","content":"TORONTO, Oct. 16, 2025 /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 portfolio of three automotive dealership properties (the "Properties") located at 2291, 2301 and 2311 Place Transcanadienne in Dorval, Québec, a suburb of Montréal, from a third party for a purchase price of $52.5 million.","length":469,"tagName":"p"},{"type":"text","content":"The Properties consist of Subaru Des Sources, Honda Des Sources and Volkswagen Des Sources, which together comprise 140,693 square feet of gross leasable area situated on approximately nine acres of land. The Properties are located along a commercial corridor adjacent to the Trans-Canada Highway in close proximity to the Montréal-Pierre Elliott Trudeau International Airport. The Properties are tenanted by members of the Dilawri Group under triple-net leases with renewal rights.","length":482,"tagName":"p"},{"type":"text","content":"The REIT funded the purchase price of the Properties through an interest-only $31.5 million vendor take-back mortgage with an affiliate of the vendor at an interest rate of 4.5% for a term of five years, with the balance funded by the REIT's credit facilities, which the REIT expects to repay with a portion of the proceeds from its previously announced bought deal equity offering and concurrent private placement (the "Offering") expected to close on or about October 23, 2025.","length":493,"tagName":"p"},{"type":"text","content":"About Automotive Properties REIT ","length":32,"tagName":"p"},{"type":"text","content":"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 Canada and the United States. The REIT's portfolio currently consists of 90 income-producing commercial properties, representing approximately 3.4 million square feet of gross leasable area, in metropolitan markets across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Québec in Canada...