Mr. Steven Scott of Storage Vault reports

STORAGEVAULT PURCHASES BROSSARD, QUEBEC PROPERTY WITH AUTOMOTIVE PROPERTIES REIT

Storagevault Canada Inc. and Automotive Properties Real Estate Investment Trust have entered into a 50/50 joint venture to acquire an automotive dealership property located at 9425 Taschereau Blvd. in Brossard, Que., from a third party vendor. Storagevault owns a self-storage property that is adjacent to the Brossard property. The acquisition of the Brossard property closed today.

Under the terms of the joint venture, Automotive Properties REIT and Storagevault each financed 50 per cent of the $16.1-million purchase price, which included related expenditures.

The Brossard property will be managed by Automotive Properties REIT for so long as it is used for automotive purposes for customary management fees. The joint venture expects to consider the highest value and best use for the Brossard property over the long term to maximize value, including automotive, self-storage or other uses.

About Storagevault Canada Inc.

Storagevault, before the completion of the acquisitions, owns and operates 239 storage locations across Canada. Storagevault owns 208 of these locations plus over 4,500 portable storage units representing over 11.5 million rentable square feet on over 670 acres of land. Storagevault also provides last-mile storage and logistics solutions, and professional records management services, such as document and media storage, imaging and shredding services.

About Automotive Properties Real Estate Investment Trust

Automotive Properties REIT is an internally managed, 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 76 income-producing commercial properties, representing approximately 2.8 million square feet of gross leasable area, in metropolitan markets across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec. Automotive Properties REIT is the only public vehicle in Canada focused on consolidating automotive dealership real estate properties.

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