Automotive Properties REIT Completes $50 Million Equity Offering

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TORONTO, Oct. 23, 2025 /CNW/ - Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (the "REIT") announced today that it has closed its previously announced bought deal public offering of 3,070,000 units at a price of $11.11 per unit (the "Offering Price") to a syndicate of underwriters bookrun by TD Securities Inc. and Scotiabank for gross proceeds of approximately $34 million (the "Public Offering"). The REIT granted the syndicate of underwriters an over-allotment option, exercisable in whole or in part at any one time up to 30 days following closing of the Public Offering, to purchase up to an additional 460,500 units at the Offering Price.

Concurrently with the Public Offering, the REIT has issued, at the Offering Price, 1,442,844 Units to a member of the Dilawri Group ("Dilawri") on a private placement basis for gross proceeds of approximately $16 million (the "Concurrent Private Placement" and, together with the Public Offering, the "Offering"). The REIT granted Dilawri an option to purchase up to an additional 216,427 units at the Offering Price in the event of, and up to the same proportion that, the underwriters exercise the over-allotment option in the Public Offering. Units sold pursuant to the Concurrent Private Placement will be subject to a statutory hold period of four months plus one day from the closing date of the Concurrent Private Placement.

The REIT intends to use the net proceeds from the Offering to repay indebtedness under its credit facilities, including the debt incurred to fund the cash portion of the previously announced acquisition of three automotive dealership properties in Dorval, Québec, and the balance, if any, will be used for general trust purposes.

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 intended use of proceeds therefrom. 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, Critical Judgments & Estimates" in the REIT's Management's Discussion & Analysis for the quarter ended June 30, 2025 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 Limited Partnership

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