Automotive Properties REIT draws on upsized facilities for acquisition

Chicago, Dec. 12 – Automotive Properties Real Estate Investment Trust announced Wednesday in a company news release that it has drawn down about C$101.4 million on its credit facilities for the acquisition of 11 properties from a privately held automotive dealership group.

The company announced on Dec. 7 that two of the REIT’s senior lenders had agreed to increase the amount available under the REIT’s credit facilities by C$110 million, secured by two of the properties in the acquisition and two previously unencumbered properties.

Based in Toronto, the REIT focuses on owning and acquiring primarily income-producing automotive dealership properties located in Canada.

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