Automotive Properties REIT Completes Acquisition of Three Automotive Properties in Dorval

Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (“Automotive Properties REIT” or the “REIT”) announced the completion of its previously announced acquisition of 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 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 tenanted by members of the Dilawri Group under triple-net leases with renewal rights.

The REIT funded the purchase price of the Properties through an interest-only $31.5 million vendor take-back mortgage with an affiliate of the vendor at an interest rate of 4.5% for a term of five years, with the balance funded by the REIT’s credit facilities, which the REIT expects to repay with a portion of the proceeds from its previously announced bought deal equity offering and concurrent private placement (the “Offering”) expected to close on or about October 23, 2025.