Automotive Properties Real Estate Investment Trust

10:30 AM EST - Automotive Properties Real Estate Investment Trust : Has completed the previously-announced acquisition of approximately 2.15 acres of land underlying the Acura Langley dealership at 20257 Langley Bypass in Langley, British Columbia from a third party for a purchase price of approximately $15.1 million. The REIT will now receive land lease payments, in addition to continued leasehold rent payments, from the operating tenant of the Acura Langley dealership, an affiliate of the Dilawri Group.The REIT funded the purchase price by drawing on its revolving credit facilities. Automotive Properties Real Estate Investment Trust shares T.APR.UN are trading down $0.26 at $13.95.

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