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Automotive Properties REIT to buy Audi Queensway automotive dealership property

Automotive Properties REIT disclosed in its second-quarter earnings release that it plans to purchase the Audi Queensway automotive dealership property in Etobicoke, Ontario, for C$36.5 million.

The Canadian single-tenant real estate investment trust said it signed a nonbinding letter of intent with Dilawri Group of Cos. for the transaction during the second quarter.