TORONTO, Dec. 20, 2012 /CNW/ - Firm Capital Property Trust (TSXV:
FCD.UN) ("FCPT" or the "Trust") is pleased to announce the commencement of its monthly distribution
and its intention to implement a Distribution Reinvestment Plan (the "DRIP") and Unit Purchase Plan (the "Plan").
FCPT is pleased to announce that its Board of Trustees has approved its
initial cash distribution of $0.029166 per Trust unit for the month of
December 2012 (This distribution is the equivalent of 1/12 of the
estimated $0.35 per trust unit on an annualized basis). This equates to
a 7.0% distribution yield based on FCPT's initial unit price of $5.00
per unit. This distribution will be paid on or about January 15, 2013
to Unitholders of record at the close of business on December 31, 2012.
The policy of FCPT is to pay cash distributions on or about the 15th day
of each month to Unitholders of record on the last business day of the
DISTRIBUTION REINVESTMENT PLAN ("DRIP") & UNIT PURCHASE PLAN
FCPT is pleased to announce, subject to TSX Venture Exchange ("TSXV") approval, its intention to implement a DRIP and Unit Purchase Plan.
Further details will be provided to unitholders once the DRIP and Unit
Purchase Plan have been approved by the TSXV.
ABOUT FIRM CAPITAL PROPERTY TRUST
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, FCPT'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, FCPT will make acquisitions, on a
co-ownership basis with strong financial partners and will make joint
acquisitions and the acquisition 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, and will source, syndicate and
participate in investments.
FORWARD LOOKING INFORMATION
This press release may contain forward-looking statements. In some
cases, forward-looking statements can be identified by the use of words
such as "may", "will", "should", "expect", "plan", "anticipate",
"believe", "estimate", "predict", "potential", "continue", and by
discussions of strategies that involve risks and uncertainties. The
forward-looking statements are based on certain key expectations and
assumptions made by the Trust regarding, among other things, the use of
the net proceeds from the Offering, the closing of the Offering, and
the closing of the Acquisition. By their nature, forward-looking
statements involve numerous assumptions, inherent risks and
uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections and various
future events will not occur. Although management of the Trust believes
that the expectations reflected in the forward-looking statements are
reasonable, there can be no assurance that future results, levels of
activity, performance or achievements will occur as anticipated.
Neither the Trust nor any other person assumes responsibility for the
accuracy and completeness of any forward-looking statements, and no one
has any obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or such other
factors which affect this information, except as required by law.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, which may be made only by means of a
prospectus, nor shall there be any sale of the Units in any state,
province or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
securities laws of any such state, province or other jurisdiction. The
Units of the Firm Capital Property Trust have not been, and will not be
registered under the U.S. Securities Act of 1933, as amended, and may
not be offered, sold or delivered in the United States absent
registration or an application for exemption from the registration
requirements of U.S. securities laws.
SOURCE: Firm Capital Property Trust
For further information:
President & Chief Executive Officer
Chief Financial Officer