Business
Firm Capital Property Trust Announces Completion of Private Placement for Gross Proceeds of $7.1 Million.
Firm Capital Property Trust Announces Completion of Private Placement for Gross Proceeds o...
About this update from Firm Capital Property Trust
[{"type":"text","content":"\n\n\n\nFirm Capital Property Trust Announces Completion of Private Placement for Gross Proceeds of $7.1 Million.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nFirm Capital Property Trust Announces Completion of Private Placement for Gross Proceeds of $7.1 Million.\nCanada NewsWire\nTORONTO, Sept. 2, 2016\n\n\n\nTORONTO, Sept. 2, 2016 /CNW/ - Firm Capital Property Trust (\"FCPT\" or the \"Trust\") (TSXV : FCD.UN) is pleased to announce that it has closed a non-brokered private placement for $7.1 million consisting of 1,190,534 units of the Trust at a price of $6.00 per unit (the \"Private Placement\"). The Trust will use the proceeds of the Private Placement to repay all or a portion of its credit facility, strengthen the Trust's balance sheet and to fund future acquisitions. Finder's fees in the aggregate of $71,160 were paid to certain eligible registrants in connection with the Offering.\n\nThe Units issued by the Trust are subject to customary hold periods under applicable Canadian securities laws.\n\nFurther information about the Trust can be found by selecting the Firm Capital Property Trust link at www.firmcapital.com.\n\nABOUT FIRM CAPITAL PROPERTY TRUSTFirm 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 Properties 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.\n\nFORWA...