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TORONTO, March 12, 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 Tesla-tenanted collision center property (the “Property”) in Dublin, Ohio, a suburb of Columbus, from a third party for a purchase price of approximately US$17.8 million.
The Property consists of an approximately 94,000 square-foot Tesla collision service center facility that is situated on 6.32 acres of land located along a commercial corridor at 5600 Britton Parkway in Dublin, adjacent to a large retail shopping center. The Property is in close proximity to Interstate 270, an auxiliary interstate highway that forms a beltway loop freeway in the Columbus Metropolitan Area.
The REIT funded the purchase price of the Property with cash on hand and by drawing on its revolving credit facilities.
About Automotive Properties REIT
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 79 income-producing commercial properties, representing approximately 3.0 million square feet of gross leasable area, in metropolitan markets across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Québec in Canada, and Ohio in the United States. Automotive Properties REIT is the only public vehicle in Canada focused on consolidating automotive and OEM dealership and service real estate properties. For more information, please visit: www.automotivepropertiesreit.ca.
SOURCE Automotive Properties Real Estate Investment Trust
