TORONTO, Jan. 12, 2017 /CNW/ - Firm Capital American Realty Partners Corp. ("the "Company"), (TSXV : FCA.U) is pleased to announce the appointment of Robert McKee as Interim President and Chief Executive Officer of the Company and the reassignment of Sandy Poklar as Chief Financial Officer of the Company effective as of January 12, 2017 (the "Effective Date").
Robert McKee is currently the President and CEO and Trustee of Firm Capital Property Trust (TSXV : FCD.UN) and has held such roles since its inception in 2012. Robert is also the CEO, Real Estate for the Firm Capital Organization. Previously, Robert was a member of the Real Estate Investment Banking Group at TD Securities Inc. and also formerly served on the board of Trustees of True North Apartment Real Estate Investment Trust.
Sandy Poklar has assumed the role of Chief Financial Officer of the Company following the resignation of Stuart Pasternak as of the Effective Date.
Sandy Poklar is currently the Chief Financial Officer and Trustee for Firm Capital Property Trust. (TSXV : FCD.UN). Sandy is also currently the Chief Operating Officer and Managing Director, Capital Markets & Strategic Developments for Firm Capital Corporation (a private company) and Chief Operating Officer for Firm Capital Mortgage Investment Corporation (TSX : FC).
The Company's Manager, Firm Capital Realty Partners Advisors Inc., has the authority to appoint the Chief Executive Officer and Chief Financial Officer of the Company, but is subject to final board approval. The roles that both Robert and Sandy will be assuming are consistent with the roles both currently have with Firm Capital Property Trust.
With the Company now heading towards completing new investments, it is pleased to announce that Jonathan Mair will be responsible for all mortgage debt underwriting and Michael Weitzner will be responsible for all real estate acquisition and equity underwriting initiatives.
Jonathan Mair is currently the CFO and a Director of Firm Capital Mortgage Investment Corporation (TSX : FC) and is a Trustee and Co-Chief Investment Officer of Firm Capital Property Trust (TSXV : FCD.UN). Jonathan has also been the Vice-President, Mortgage Banking, of the Firm Capital Corporation (a private company) since 1997. Prior to that, Jonathan was a Vice-President of KPMG Inc. (a financial advisory services firm) specializing in the management and debt restructuring of mortgage lending institutions and mortgage portfolios from 1993 to 1997.
Michael Weitzner is currently the Vice President, Investments and Asset Management for Firm Capital Property Trust (TSXV : FCD.UN). Michael is also the Managing Director, Realty and Capital Markets Investments for the Firm Capital Corporation (a private company). Mr. Weitzner was previously the Managing Director, Real Estate Structured Finance for Amstel Securities N.V.
ABOUT FIRM CAPITAL AMERICAN REALTY PARTNERS CORP.
Firm Capital American Realty Partners Corp. focuses on capital partnership investing in U.S. income producing real estate & mortgage debt investments.
The Company is focused on the following investment platforms:
- Income Producing Real Estate Investments: Acquiring income producing U.S. real estate assets in major cities across the United States. Acquisitions are completed solely by the Company or in joint-venture partnership with local industry expert partners who retain property management; and
- Mortgage Debt Investments: Real estate debt and equity lending platform focused on major cities across the United States. Focused on providing all forms of bridge mortgage loans and joint venture capital.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's intention to complete: (i) new investments; (ii) acquisitions of income producing U.S. real estate assets; (iii) joint venture capital investments; and (iv) mortgage debt and equity lending and underwriting initiatives focused on major cities across the U.S. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse factors affecting the U.S. real estate market generally or those specific markets in which the Company holds properties; volatility of real estate prices; inability to complete the Company's single family property disposition program or debt restructuring in a timely manner; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; currency and interest rate fluctuations and other risks, including those described in the Company's public disclosure documents on SEDAR at www.sedar.com.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Firm Capital American Realty Partners Corp.
For further information: Robert McKee, Interim President & Chief Executive Officer, (416) 635-0221; Sandy Poklar, Chief Financial Officer, (416) 635-0221