Automotive Properties Real Estate Investment Trust (TSX:APR.UN) entered into an agreement to acquire 4555 Av. de la Renaissance, Laval on December 21, 2022. Simultaneously, Automotive Properties Real Estate Investment Trust (TSX:APR.UN) entered into agreement to acquire five other automotive dealership properties in Quebec. The Purchase price of six automotive dealership properties is approximately CAD 98.5 million. In conjunction with the Acquisitions, the REIT has reached an agreement to increase the amount available under the non-revolving component of one of its credit facilities by CAD 70 million. The REIT will fund the purchase price of the Acquisitions through the increase to one of its credit facilities as described above, draws on its revolving credit facilities and cash on hand, which includes CAD 18.0 million from the recently completed sale of the Kingston Toyota and Lexus of Kingston automotive dealership properties. Automotive Properties Real Estate Investment Trust has completed its due diligence in connection with the Acquisitions and expects to close the Acquisitions in January 2023, subject to customary closing conditions.

Automotive Properties Real Estate Investment Trust (TSX:APR.UN) completed the acquisition 4555 Av. de la Renaissance, Laval on January 3, 2023.