Firm Capital Mortgage Investment Trust - December distribution amounting to $0.11 per unit

About this update from Firm Capital Mortgage Investment Corporation

[{"type":"text","content":"\n\n\n\n\nTSX Symbol FC.UN\n\nTORONTO, Dec. 15 /CNW/ - Firm Capital Mortgage Investment Trust (the\n\"Trust\") (TSX: FC.UN) announced its year end distribution in the amount of\n$0.11 per unit, payable on December 30, 2005 to Unitholders of record on\nDecember 30, 2005. The distribution includes the regular $0.075 monthly\ndistribution for December 2005 and an extra $0.035 per unit, consisting of\nexcess income over the year's distributions earned on the Trust's mortgage\ninvestments. Distributions to Unitholders for the 2005 year totalled $0.935\nper unit, the same as last year.\nCommencing on July 1, 2005, the Trust commenced recognizing mortgage\ncommitment fees over the term of the related loan where such fees exceed\n$4,000 individually. The unrecognized component of the fees is recorded as\nunearned income on the Trust's balance sheet and is expected to total\napproximately $240,000 by December 31, 2005.\nThe Trust has in place a Distribution Reinvestment Plan (DRIP) and Unit\nPurchase Plan that is available to its Unitholders. The plans allows\nparticipants to have their monthly cash distributions reinvested in additional\nTrust units and grants participants the right to purchase additional units.\n\nThe Trust, through its Mortgage Banker, Firm Capital Corporation, is a\nnon-bank lender providing residential and commercial short-term bridge and\nconventional real estate financing, including mezzanine & equity investments.\nThe Trust's investment objective is the preservation of Unitholders' equity,\nwhile providing Unitholders with a stable stream of monthly distributions\nfrom investments. The Trust achieves its investment objectives by pursuing a\nstrategy of growth through investments in selected niche markets that are\nunder-serviced by large lending institutions. Lending activities to date\ncontinue to develop a diversified mortgage portfolio, producing a stable\nreturn to Unitholders.\n\n\n","length":1977,"tagName":"div"}]

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