Automotive Properties REIT Announces Filing of Final Short Form Prospectus in Connection with Public Offering of Units

– Final Short Form Prospectus Accessible through SEDAR+ –

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, Oct. 20, 2025 /CNW/ - Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (the "REIT") announced today that, in connection with its previously announced bought deal public offering (the "Offering"), the REIT has filed a final short form prospectus dated October 20, 2025 (the "Final Prospectus") with the securities commissions or other similar regulatory authorities in each of the provinces of Canada, and has obtained a receipt therefor.

The Final Prospectus qualifies the distribution of 3,070,000 units of the REIT ("Units") at a price of $11.11 per Unit and up to an additional 460,500 Units pursuant to the over-allotment option granted to the underwriters.

Closing of the Offering is expected to occur on or about October 23, 2025, and is subject to certain customary conditions, including approval of the Toronto Stock Exchange.

Access to the Final Prospectus and any amendment thereto is provided in accordance with securities legislation relating to procedures for providing access to a prospectus and any amendment. The Final Prospectus is accessible on the System for Electronic Data Analysis and Retrieval + ("SEDAR+") at www.sedarplus.ca. An electronic or paper copy of the Final Prospectus and any amendment may be obtained, without charge, from TD Securities Inc. at 1625 Tech Avenue, Mississauga, Ontario, L4W 5P5, Attention: Symcor, NPM, or by telephone at [phone] or by email at [email protected] by providing the contact with an email address or address, as applicable. Prospective investors should read the Final Prospectus in its entirety before making an investment decision.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Automotive Properties REIT

Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive and other OEM dealership and service properties located in Canada and the United States. The REIT's portfolio currently consists of 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 Québec in Canada, and Florida 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.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects the REIT's current expectations regarding future events and in some cases can be identified by such terms as "anticipates", "will", "would" and "expected". Forward-looking information includes statements regarding the Offering, including the timing thereof. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the REIT's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the failure to successfully close the Offering on the terms described, or at all, and the factors discussed under "Risks and Uncertainties, Critical Judgments & Estimates" in the REIT's Management's Discussion & Analysis for the quarter ended June 30, 2025 (the "Q2 2025 MD&A) or in the REIT's annual information form dated March 5, 2025 (including under "Risk Factors" therein), both of which are available under the REIT's profile on SEDAR+ at www.sedarplus.ca. The REIT does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. This forward-looking information speaks only as of the date of this news release.

SOURCE Automotive Properties Real Estate Investment Trust

For more information please contact: Bruce Wigle, Investor Relations, Bay Street Communications, Tel: [phone]; Milton Lamb, President & CEO Andrew Kalra, CFO & Corporate Secretary, Automotive Properties REIT Automotive Properties REIT, Tel: [phone] Tel: [phone]