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TORONTO, Sept. 15, 2017 /CNW/ - Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (the "REIT") will be added to the S&P/TSX Small Cap Index effective at the market open on Monday, September 18, 2017.
"The addition of Automotive Properties REIT to the S&P/TSX Small Cap Index represents an important milestone and reflects the considerable progress we have made in advancing our growth objectives since our initial public offering in July 2015," said Milton Lamb, President and CEO of Automotive Properties REIT. "Inclusion in this index is expected to increase the REIT's exposure to a broader range of potential investors and provide for enhanced trading liquidity."
The REIT also declared a cash distribution of $0.067 per REIT unit for the month of September 2017, representing $0.80 per REIT unit on an annualized basis. Payment will be made on October 16, 2017 to unitholders of record as at September 29, 2017.
About the S&P/TSX Small Cap Index
The S&P/TSX Small Cap Index provides an investable index for the Canadian small cap market. The index is float adjusted and market cap weighted and was developed with industry input as the ideal benchmark for those with small cap exposure of the Canadian equity market. The Toronto Stock Exchange (TSX) serves as the distributor of both real-time and historical data for this index.
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 dealership properties located in Canada. The REIT's portfolio of 35 income producing commercial properties represents approximately 1.4 million square feet of gross leasable area in Ontario, Saskatchewan, Alberta, British Columbia and Québec. Automotive Properties REIT is the only public vehicle in Canada focused on consolidating automotive dealership real estate properties. For more information, please visit: www.automotivepropertiesreit.ca.
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 "will" and "expected". 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 factors discussed under "Risks and Uncertainties" in the REIT's management's discussion and analysis ("MD&A") for the year ended December 31, 2016 and in the REIT's current annual information form, both of which are available on SEDAR (www.sedar.com). 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 further information: Bruce Wigle, Investor Relations, Bay Street Communications, Tel: 647-496-7856; Milton Lamb, President & CEO, Automotive Properties REIT, Tel: (647) 789-2445; Andrew Kalra, CFO & Corporate Secretary, Automotive Properties REIT, Tel: (647) 789-2446