Automotive Properties REIT Completes Acquisition of Three Automotive Properties in Dorval, Quebec for a Purchase Price of $52.5 Million

Executive Summary

• Automotive Properties REIT completed the purchase of three automotive dealership properties in Dorval, Québec for $52.5 million.
• The acquisition was funded with a $31.5 million interest‑only vendor take‑back mortgage (4.5% rate, 5‑year term) and the remainder from existing credit facilities, to be repaid using proceeds from a previously announced bought‑deal equity offering and concurrent private placement expected to close around October 23, 2025.
• The properties total 140,693 sq ft of gross leasable area on ~9 acres, are triple‑net leased to Dilawri Group members, and enhance the REIT’s portfolio of automotive dealership assets.

Key Details

• Purchase Price: $52.5 million for three dealership sites (Subaru, Honda, Volkswagen) at 2291‑2311 Place Transcanadienne, Dorval, Québec.
• Property Size: 140,693 sq ft GLA on approximately nine acres; located near the Trans‑Canada Highway and Montréal‑Pierre Elliott Trudeau International Airport.
• Tenancy: Triple‑net leases with renewal rights held by members of the Dilawri Group.
• Financing Structure:
• $31.5 million vendor take‑back mortgage (interest‑only, 4.5% annual rate, 5‑year term) provided by an affiliate of the seller.
• Remaining funds sourced from the REIT’s existing credit facilities.
• Planned Repayment: Proceeds from a previously announced bought‑deal equity offering and concurrent private placement (the “Offering”) expected to close on or about October 23, 2025 will be used to repay the credit facility portion of the purchase price.
• Strategic Impact: Adds three automotive dealership properties in a high‑visibility corridor adjacent to a major airport, further diversifying and expanding the REIT’s Canadian automotive real estate portfolio (now 90 income‑producing properties, ~3.4 million sq ft).

Notable Quotes

(No direct quotes were provided in the release.)