First Capital REIT Announces $30 Million Small Business Support Program

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[{"type":"text","content":"\n\n\n\nFirst Capital REIT Announces $30 Million Small Business Support Program\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 23, 2020\n\n\n\nEffective April 1, the FCR Small Business Support Program brings immediate relief to qualifying FCR small businesses impacted by the COVID-19 pandemic\n TORONTO, March 23, 2020 /CNW/ - First Capital REIT (\"First Capital\", \"FCR\") (TSX: FCR.UN) one of Canada's leading developers, owners and operators of mixed-use urban real estate in Canada's most densely populated neighbourhoods, announced today the introduction of the FCR Small Business Support Program, a $30 Million program to bring immediate relief to small business owners in the Company's portfolio. \n\"Small businesses play such an important role in the thriving neighborhoods in which we invest.   Many of these businesses are also among the most impacted by the COVID-19 pandemic.  To help, First Capital is launching a program for our small business tenants who need it most.  First Capital will immediately make available up to $30 million in the form of lease amendments that defer rent to assist these small businesses and their employees in this very difficult time,\" said Adam Paul, President and CEO of First Capital.\nEffective April 1, 2020, qualifying small businesses that operate within the Company's portfolio and that demonstrate a need for assistance, may qualify to defer a portion or all of their rent for a time period that is initially set at 2 months commencing with April rent.  \n\"We have long recognized that one of our greatest strengths lies in working together as a community. This program continues First Capital's investment in our properties and tenants so that through these challenging times we can give small businesses and the communities in which they operate some short-term relief to help them thrive over the long term,\" said Mr. Paul. \nAbout First Capital REIT (TSX:FCR.UN)First Capital is one of Canada's leading developers, owners and operators of mixed-u...

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