Canadian Net REIT has sold five gas station properties in Quebec for $12.8 million.

All five properties are leased to independent gas station operators and retailers.

The Pointe-Claire, Que.-based REIT plans to use the $7.6 million in net proceed to reduce credit facilities and create future acquisition opportunities.

“The five gas station properties were operated by independent operators, aligning with our strategy of decreasing exposure to local operators and increasing our focus on national, necessity-based retailers,” said Kevin Henley, Canadian’s president and CEO, in a news release. “We remain committed and focused on strategic acquisitions while continuing to optimize the portfolio.”

The properties are located in Sainte-Eustache, Sainte-Hyacinthe, Mont Sainte-Hilaire, Sainte-Jean-sur-Richelieu and Richelieu.

Calgary-based Suncor leases three of the five properties with independent operators and quick-service restaurant companies. Suncor and an independent gas station operator manage the Sainte-Eustache location. In Sainte-Hyacinthe and Richelieu, Suncor and an independent operator lease the properties with Tim Hortons and Subway.

Parkland and McDonald’s lease the Mont Sainte-Hilaire location with an independent operator. Meanwhile, an independent operator and Sobeys lease the Sainte-Jean-sur-Richelieu site.