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Firm Capital Apartment Real Estate Investment Trust (V:FCA.UN)

Business Focus: Diversified REITs

Sector:  Real Estate Industry:  Diversified REITs
 
Company Contact
Address: 163 Cartwright Avenue
TORONTO ON M6A 1V5
Tel: N/A
Website: https://firmcapital.com/fcareit
IR: See website
Key People
Sandy I. Poklar
President, Chief Executive Officer, Trustee
Eli Dadouch
Vice Chairman of the Board of Trustees
Claudia Alvarenga
Chief Financial Officer
Business Overview
Firm Capital Apartment Real Estate Investment Trust is a Canada-based multi-residential real estate investment trust (the Trust). The Trust is a United States focused real estate investment trust that pursues multi-residential income-producing real estate and related debt investments on both a wholly owned and joint venture basis. The Trust has ownership interests in a total of 1,756 apartment units diversely located in Florida, Connecticut, Texas, New York, New Jersey, and Georgia among others. It provides a range of products and services, such as mortgage banking, which includes mortgage services, lending programs, and mortgage brokers, real estate investment, private equity, and alternative credit. It offers a complete line of lending programs for the residential and commercial real estate markets, including mezzanine and joint venture programs. Capital Realty Partners Advisors Inc. is the investment manager of the Trust.
Financial Overview
For the nine months ended 30 September 2023, Firm Capital prtmnt Rl stt nvstmnt Trst revenues increased 17% to $9.7M. Net loss applicable to common stockholders decreased 32% to $8.2M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Lower net loss reflects FV Adjustments of Financial Investments decrease of 85% to $538K (expense).
Employees: 3 as of Dec 31, 2021
Reporting Currency: U.S. Dollars
Enterprise value: $153.65M as of Sep 30, 2023
Annual revenue (TTM): $17.60M as of Sep 30, 2023
EBITDA (TTM): $4.55M as of Sep 30, 2023
Net annual income (TTM): -$13.94M as of Sep 30, 2023
Free cash flow (TTM): $0.21M as of Sep 30, 2023
Net Debt Last Fiscal Year: $42.40M as of Sep 30, 2023
Shares outstanding: 7,604,375 as of Sep 30, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization