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Firm Capital Property Trust announces the closing of a 50% interest in a 159,164 square foot single tenant industrial building located in Montreal, Quebec
Firm Capital Property Trust announces the closing of a 50% interest in a 159,164 square fo...
About this update from Firm Capital Property Trust
[{"type":"text","content":"\n\n\n\nFirm Capital Property Trust announces the closing of a 50% interest in a 159,164 square foot single tenant industrial building located in Montreal, Quebec\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\n\nCanada NewsWire\nTORONTO, Oct. 15, 2018\n\n\n\nTORONTO, 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. \nThe Trust's portion of the Property is being financed from existing cash resources. \nABOUT 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....