Business
Firm Capital Property Trust Announces the Commencement of Monthly Distribution and Intention to Implement a Distribution Reinvestment Plan and Unit Purchase Plan
TORONTO, Dec. 20, 2012 /CNW/ - Firm Capital Property Trust (TSXV: FCD.UN) (" FCPT" or the ...
About this update from Firm Capital Property Trust
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Dec. 20, 2012 /CNW/ - Firm Capital Property Trust (TSXV:\n FCD.UN) (\"FCPT\" or the \"Trust\") is pleased to announce the commencement of its monthly distribution\n and its intention to implement a Distribution Reinvestment Plan (the \"DRIP\") and Unit Purchase Plan (the \"Plan\").\n\n\nMONTHLY DISTRIBUTION\nFCPT is pleased to announce that its Board of Trustees has approved its\n initial cash distribution of $0.029166 per Trust unit for the month of\n December 2012 (This distribution is the equivalent of 1/12 of the\n estimated $0.35 per trust unit on an annualized basis). This equates to\n a 7.0% distribution yield based on FCPT's initial unit price of $5.00\n per unit. This distribution will be paid on or about January 15, 2013\n to Unitholders of record at the close of business on December 31, 2012.\n\n\nThe policy of FCPT is to pay cash distributions on or about the 15th day\n of each month to Unitholders of record on the last business day of the\n preceding month.\n\n\nDISTRIBUTION REINVESTMENT PLAN (\"DRIP\") & UNIT PURCHASE PLAN\nFCPT is pleased to announce, subject to TSX Venture Exchange (\"TSXV\") approval, its intention to implement a DRIP and Unit Purchase Plan.\n Further details will be provided to unitholders once the DRIP and Unit\n Purchase Plan have been approved by the TSXV.\n\n\nABOUT FIRM CAPITAL PROPERTY TRUST\nFirm Capital Property Trust is focused on creating long-term value for\n Unitholders, through capital preservation and disciplined investing to\n achieve stable distributable income. In partnership with management and\n industry leaders, FCPT's plan is to co-own a diversified property\n portfolio of multi-residential, flex industrial, net lease convenience\n retail, and core service provider professional space. In addition to\n stand alone accretive acquisitions, FCPT will make acquisitions, on a\n co-ownership basis with strong financial partners and will make joint\n acquisitions and the acquisition of partial interests from existing\n ownership groups, in a manner that provides liquidity to those selling\n owners and professional management for those remaining as partners. \n Firm Capital Realty Partners Inc., through a structure focused on an\n alignment of interests with the Trust, and will source, syndicate and\n participate in investments.\n\n\nFORWARD LOOKING INF...