Automotive Properties Real Estate Investment Trust (TSX:APR.UN) entered into a purchase agreement to acquire Automotive and Service Property in Vista, San Diego County, California for $16 million.
Automotive Properties Real Estate Investment Trust (TSX:APR.UN) entered into a purchase agreement to acquire Automotive and Service Property in Vista, San Diego County, California for $16 million on during the period ending December 31, 2025. A cash consideration of $16 million will be paid by Automotive Properties Real Estate Investment Trust. The REIT expects to fund the purchase price of the Vista Property by drawing on its revolving credit facilities.
On March 4, 2026, the REIT waived conditions for the purchase of the property being acquired. The acquisition is expected to close during the first half of 2026.
Automotive Properties Real Estate Investment Trust (the REIT) is a Canada-based open-ended real estate investment trust. The REIT is 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 consists of approximately 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 Quebec in Canada, and Florida and Ohio in the United States. The REIT is focused on consolidating automotive and OEM dealership and service real estate properties. Its properties include Porsche Center Vancouver, Audi Sales Downtown Vancouver, Calgary BMW, Calgary Honda, Regina Honda, Dilawri Nissan Infiniti, Regina Hyundai, Tesla Edmonton, Go Mazda, Porsche Center and Jaguar Land Rover Edmonton, McNaught Cadillac Buick GMC, and Tesla KW, among others.
Automotive Properties Real Estate Investment Trust (TSX: APR.UN) entered into a purchase agreement to acquire Automotive and Service Property in Vista, San Diego County, California for $16 million.
