APR.UN
Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive dealership properties located in Canada. The REIT's portfolio currently consists of 64 income-producing commercial properties and one development property, representing approximately 2.5 million square feet of gross leasable area, in metropolitan markets across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Québec. Automotive Properties REIT is the only public vehicle in Canada focused on consolidating automotive dealership real estate properties.
On August 25, 2020, the REIT acquired from a third party the real estate underlying an automotive property located in the Laval, Quebec area. The property was improved by the REIT as a service center for Tesla Motors Canada ULC, a luxury, high-end car company. As of the beginning of November 2020, the Tesla Service Center in Laval opened for operation.
7.9% yield