Automotive Properties REIT is an owner of automotive dealership properties in key Canadian urban centres. It is an open-ended, growth-oriented REIT. The Dilawri Group, AutoCanada Inc., Drive Auto Group, Go Auto, Mierens Automotive Group, and Pfaff Auto Group are a few of Automotive Properties’ leading tenants. The REIT is in a good position to gain from the booming automotive retail industry which is Canada’s largest retail segment.
Its portfolio comprises of 61 income-producing automotive properties located in more than 190 acres across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec. Automotive Properties REIT has attractive leasing profile with 13.7 years of weighted average lease term.
The REIT’s property leases are structured as triple-net leases under which the tenant is responsible for all costs relating to repair and maintenance, taxes, insurance, and other non-structural improvements. Automotive Properties’ tenants include 32 global brands in the mass market and ultra luxury segments, with a focus on Euro and Asian brands.