09:01 AM EST, 02/10/2025 (MT Newswires) -- Automotive Properties Real Estate Investment Trust (APR-UN.TO) on Monday agreed to buy a Tesla-tenanted property in Dublin, Ohio from a third party for about US$17.8 million.

The company expects an increase in its adjusted funds from operations per unit with the addition of the property and expects to close the deal in the first quarter.

Automotive Properties will fund the purchase price of the deal primarily by drawing on its revolving credit facilities.

Shares of the company closed down $0.04 or 0.4%, to $10.46 on Friday on the Toronto Stock Exchange.