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Automotive Properties Reit Acquires Lexus Laval Dealership Property In Greater Montreal Area

by benzinga.com posted 1month ago 26 views
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ TORONTO, March 1, 2021 /CNW/ - Automotive Properties Real Estate Investment Trust (TSX:APR) ("Automotive Properties REIT" or the "REIT") announced today that it has acquired the Lexus Laval dealership property in Laval, Quebec (the "Property") from the Dilawri Group ("Dilawri") for a purchase price of approximately $14.8 million. The addition of the Property is expected to be accretive to the REIT's Adjusted Funds from Operations ("AFFO")¹ per unit on a leverage-neutral basis.

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