Automotive Properties REIT Completes $18 Million Acquisition of Country Hills Volkswagen Dealership Property in Calgary
Automotive Properties REIT Completes $18 Million Acquisition of Country Hills Volkswagen Dealership Property in Calgary |
[19-June-2018] |
/− NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES −/ TORONTO, June 19, 2018 /CNW/ - Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (the "REIT") today announced that it has closed the previously-announced acquisition of the Country Hills Volkswagen dealership property (the "Property") in Calgary, Alberta. The Property includes a newly-built 34,646 square-foot, full-service Volkswagen dealership facility located on approximately 4.7 acres at 11380 Stonehill Drive NE, a busy commercial corridor just north of the Calgary International Airport. The REIT funded a portion of the $18 million purchase price for the Property through the issuance of 480,552 trust units of the REIT, valued at approximately $5.0 million. The remaining $13 million of the purchase price was funded through draws on the REIT's credit facilities and cash on hand. About Automotive Properties REIT Forward-Looking Information SOURCE Automotive Properties Real Estate Investment Trust | ||
Company Codes: Toronto:APR.UN |
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