10:07 AM EDT, 10/23/2025 (MT Newswires) -- Automotive Properties Real Estate Investment Trust (APR-UN.TO) Thursday said it closed its previously announced bought deal public offering of 3.07 million units at a price of $11.11 each to a syndicate of underwriters book run by TD Securities and Scotiabank, for gross proceeds of approximately C$34 million.

A statement noted that 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.

Automotive Properties REIT also said that concurrently with the public offering, it issued, at the offering price, around 1.44 million units to a member of the Dilawri Group on a private placement basis for gross proceeds of approximately $16 million.

The REIT said it 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.

The REIT plans to use the net proceeds from the concurrent private placement and the public 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, Quebec, and the balance, if any, will be used for general trust purposes.

The company's shares were last seen up 0.37% to $11.00 on the Toronto Stock Exchange.

Price: 10.99, Change: +0.03, Percent Change: +0.27