Expansion And GrowthAutomotive Properties REIT announced two separate acquisitions for a total of C$44.2 million, which expanded its focus materially and potentially positions the REIT for much greater growth.
Financial PerformanceSP-NOI increased 2.5% y/y, driven primarily by contractual rent increases embedded throughout the portfolio.
Strategic AcquisitionsAPR agreed to acquire a 25,000 sf Rivian dealership in Tampa for US$13.5 million, an area with a population increase of 5.3% compared to the US national growth rate of 2.0%.