Automotive Properties Real Estate Investment Trust
Automotive Properties REIT specializes in owning automotive dealership properties across major Canadian urban centers, with a portfolio of 77 properties and a focus on European and Asian automotive brands.
Real Estate Portfolio
Automotive Properties Real Estate Investment Trust owns a portfolio of 77 income-producing automotive dealership properties strategically located in key metropolitan markets across Canada. These properties span approximately 249 acres and encompass around 2.9 million square feet of gross leasable area. The properties are situated in major urban centers in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec. These locations are prime real estate for retail automotive dealerships, service centers, and ancillary businesses.
Tenant Details
Properties owned by Automotive Properties Real Estate Investment Trust are occupied by prominent automotive dealership groups. These include Dilawri Group, AutoCanada Inc., Drive Auto Group, Go Auto, Mierens Automotive Group, and Pfaff Auto Group (Lithia Motors Inc.). The dealership businesses hosted on these properties represent a mix of global automotive brands, with an emphasis on European and Asian brands, ranging from mass market to ultra-luxury segments.
Lease Terms
The properties under Automotive Properties Real Estate Investment Trust feature leases with a weighted average lease term of approximately 9.8 years as of December 31, 2023. The leases include contractual fixed rent increases, ensuring a steady revenue stream. This robust lease structure provides dependable income and minimizes turnover, benefiting both the trust and its unitholders.
Market Presence
Automotive Properties Real Estate Investment Trust's holdings are strategically positioned within the Canadian automotive retail industry. As of 2023, this industry generated sales of approximately $211 billion, accounting for about 27% of Canada's overall retail sales of products and merchandise. This strong market presence underscores the importance of the trust’s properties and the automotive sector's significant contribution to retail sales.
Stock Exchange Listing
Automotive Properties Real Estate Investment Trust is listed on the Toronto Stock Exchange under the symbol APR.UN. Being listed on a major stock exchange enhances the trust’s visibility and accessibility to investors. The trust pays monthly cash distributions to its unitholders, offering a consistent return on investment and showcasing its commitment to providing value.