Automotive Properties REIT Announces $50 Million Equity Offering and Agreement to Acquire Three Automotive Properties

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TORONTO, Oct. 06, 2025 (GLOBE NEWSWIRE) -- Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (the “REIT”) announced today that it has entered into an agreement to sell 3,070,000 units of the REIT (“Units”) on a bought deal basis 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”).

In addition, the REIT has 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 (the “Over-Allotment Option”) which, if exercised in full, would increase the gross proceeds of the Public Offering to approximately $39 million.

Concurrently with the Public Offering, the REIT has agreed to issue, at the Offering Price, 1,442,844 Units to a member of the Dilawri Group (“Dilawri”) on a private placement basis (the “Concurrent Private Placement” and, together with the Public Offering, the “Offering”). The REIT has also 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, which, if exercised in full, would increase the gross proceeds of the Concurrent Private Placement to approximately $18 million. 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. The closing of the Concurrent Private Placement is scheduled to occur on the closing date of the Public Offering. The closing of the Public Offering is conditional on the closing of the Concurrent Private Placement and the closing of the Concurrent Private Placement is conditional on the closing of the Public Offering.

The REIT intends to use the net proceeds from the Offering (i) to fund a portion of the purchase price and related closing costs in respect of the Acquisition (as defined below), and (ii) for general trust purposes, including the repayment of indebtedness.

The REIT also announced today that it has entered into an agreement to purchase 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 (the “Acquisition”). 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 located across the street from a new Réseau Express Métropolitain train station. The Properties are tenanted by members of the Dilawri Group under short-term, triple-net leases with renewal rights.