TORONTO, Oct. 15, 2018 /CNW/ - Firm Capital Property Trust
("FCPT" or the "Trust") (TSXV: FCD.UN) is pleased to
announce the closing of a 50% interest in a 159,164 square foot
single tenant industrial property located in Montreal, Quebec. The acquisition price of the
property is approximately $11.0
million, excluding transaction costs (the
"Property"). The Property will be part of the current
Montreal portfolio with all of the
existing investors participating in their pro rata share. The
Property is being acquired at a 7.5% capitalization rate, is
located in the Mount Royal
industrial market and is 100% leased to Le Chateau Inc. until
April 30, 2026.
The Trust's portion of the Property is being financed from
existing cash resources.
ABOUT FIRM CAPITAL PROPERTY TRUST (TSXV :FCD.UN)
Firm
Capital Property Trust is focused on creating long-term value for
Unitholders, through capital preservation and disciplined investing
to achieve stable distributable income. In partnership with
management and industry leaders, The Trust's plan is to co-own a
diversified property portfolio of multi-residential, flex
industrial, net lease convenience retail, and core service provider
professional space. In addition, to stand-alone accretive
acquisitions, the Trust will make joint acquisitions with strong
financial partners and acquisitions of partial interests from
existing ownership groups, in a manner that provides liquidity to
those selling owners and professional management for those
remaining as partners. Firm Capital Realty Partners Inc.,
through a structure focused on an alignment of interests with the
Trust sources, syndicates and property and asset manages
investments on behalf of the Trust. Further information about the
Trust can be found by selecting the Firm Capital Property Trust
link at www.firmcapital.com.
FORWARD LOOKING INFORMATION
This press release
may contain forward-looking statements. In some cases,
forward-looking statements can be identified by the use of words
such as "may", "will", "should", "expect", "plan", "anticipate",
"believe", "estimate", "predict", "potential", "continue", and by
discussions of strategies that involve risks and uncertainties. The
forward-looking statements are based on certain key expectations
and assumptions made by the Trust regarding, among other things,
the closing of the acquisition of the Portfolio. By their nature,
forward-looking statements involve numerous assumptions, inherent
risks, and uncertainties, both general and specific, that
contribute to the possibility that the predictions, forecasts,
projections and various future events will not occur. Although
management of the Trust believes that the expectations reflected in
the forward-looking statements are reasonable, there can be no
assurance that future results, levels of activity, performance or
achievements will occur as anticipated. Neither the Trust nor any
other person assumes responsibility for the accuracy and
completeness of any forward-looking statements, and no one has any
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or such other
factors which affect this information, except as required by
law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release
SOURCE Firm Capital Property Trust