Mr. Milton Lamb reports

AUTOMOTIVE PROPERTIES REIT COMPLETES ACQUISITION OF AUTOMOTIVE PROPERTY IN ORLANDO, FLORIDA FOR A PURCHASE PRICE OF US$16.8 MILLION

Automotive Properties Real Estate Investment Trust has completed its previously announced acquisition of an automotive property in Orlando, Fla., from Ultimate Realty for a purchase price of approximately $16.8-million (U.S.).

The property is tenanted by Rivian LLC, a leading American developer and manufacturer of electric vehicles and accessories, under a long-term, net lease that includes contractual fixed annual rent increases with renewal options. The property consists of an approximately 34,938-square-foot Rivian sales, delivery and service facility that is situated on approximately 6.4 acres of land located at 4000 Shader Rd.

The REIT financed the purchase price of the property by drawing on its credit facilities.

About Automotive Properties Real Estate Investment Trust

Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring income-producing automotive and other original equipment manufacturer dealership and service properties located in Canada and the United States. The REIT's portfolio currently consists of 81 income-producing commercial properties, representing approximately three million square feet of gross leasable area, in metropolitan markets across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec in Canada, and Florida and Ohio in the United States. Automotive Properties REIT is the only public vehicle in Canada focused on consolidating automotive and OEM dealership and service real estate properties.