05:21 PM EDT, 10/16/2025 (MT Newswires) -- Automotive Properties Real Estate Investment Trust (APR-UN.TO) said on Thursday it closed the acquisition of a Quebec property portfolio consisting of three automotive dealerships for $52.5 million.

The three locations are situated along a commercial corridor, comprising Subaru Des Sources, Honda Des Sources, and Volkswagen Des Sources, which collectively occupy 140,693 square feet of gross leasable area on nine acres of land.

Funding of the deal was structured through an interest-only $31.5 million vendor take-back mortgage at 4.5% for a term of five years, which is set to be funded by the company's credit facilities and will be repaid partially through its previously disclosed bought-deal private placement, which is expected to close on October 23.

The REIT's units closed downy $0.02 to $11.03 on the Toronto Stock Exchange.