Mr. Milton Lamb reports

AUTOMOTIVE PROPERTIES REIT COMPLETES $50 MILLION EQUITY OFFERING

Automotive Properties Real Estate Investment Trust has closed its previously announced bought deal public offering of 3.07 million units at a price of $11.11 per unit to a syndicate of underwriters bookrun by TD Securities Inc. and Scotiabank for gross proceeds of approximately $34-million. The REIT granted the syndicate of underwriters an overallotment option, exercisable in whole or in part at any one time up to 30 days following closing of the public offering, to purchase up to an additional 460,500 units at the offering price.

Concurrently with the public offering, the REIT has issued, at the offering price, 1,442,844 units to a member of the Dilawri Group on a private placement basis for gross proceeds of approximately $16-million. The REIT granted Dilawri an option to purchase up to an additional 216,427 units at the offering price in the event of, and up to the same proportion that, the underwriters exercise the overallotment option in the public offering. Units sold pursuant to the concurrent private placement will be subject to a statutory hold period of four months plus one day from the closing date of the concurrent private placement.

The REIT intends to use the net proceeds from the offering to repay indebtedness under its credit facilities, including the debt incurred to fund the cash portion of the previously announced acquisition of three automotive dealership properties in Dorval, Que., and the balance, if any, will be used for general trust purposes.

About Automotive Properties Real Estate Investment Trust

Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive and other OEM (original equipment manufacturer) dealership and service properties located in Canada and the United States. The REIT's portfolio currently consists of 90 income-producing commercial properties, representing approximately 3.4 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.

We seek Safe Harbor.