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Firm Capital Property Trust Announces Closing of Overnight Marketed Equity Offering and Second Tranche of Private Placement of Trust Units


TORONTO, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Firm Capital Property Trust (the “Trust”) (TSX-V:FCD.UN) is pleased to announce today that, further to its press releases dated January 23, 2018 and January 24, 2018, respectively, it has completed its overnight marketed public offering (the “Offering”) of 2,100,000 trust units of the Trust (the “Offered Units”) for gross proceeds to the Trust of $13,125,000.

The Offering was completed at a price of $6.25 per Offered Unit (the “Offering Price”) by a syndicate of underwriters led by TD Securities Inc., and which included CIBC Capital Markets, Scotia Capital Inc., Canaccord Genuity Corp., GMP Securities L.P., Desjardins Securities Inc., Echelon Wealth Partners Inc. and Industrial Alliance Securities Inc. (collectively, the “Underwriters”).

Additionally, the Trust is pleased to announce that concurrent with the Offering it has closed the second tranche of its previously announced non-brokered private placement (the “Concurrent Private Placement”) whereby it issued 370,000 trust units of the Trust (the “Trust Units”) at a price of $6.25 per Trust Unit for gross proceeds of $2,312,500 to the Trust. The Trust has issued a total of 878,000 Trust Units for gross proceeds of $5,487,500 in connection with the first tranche and second tranche of the Concurrent Private Placement.

The Trust intends to use the net proceeds of the Offering: (i) to repay amounts drawn on the Trust’s credit facility; (ii) to fund potential future property acquisitions by the Trust; and (iii) for working capital and general trust purposes.


Firm Capital Property Trust is focused on creating long-term value for its unitholders, through capital preservation and disciplined investing to achieve stable distributable income. In partnership with management and industry leaders, the Trust’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 standalone accretive acquisitions, the Trust will make joint acquisitions with strong financial partners and acquisitions 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 sources, syndicates and asset manages investments on behalf of the Trust.

Further information about the Trust can be found by selecting the Firm Capital Property Trust link at


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, and include statements relating to the use of proceeds of the Offering. Forward-looking statements necessarily involve known and unknown risks, including those described in the Trust’s most recent Annual Information Form and the Management’s Discussion and Analysis of the Trust’s financial condition, results of operations for the year ended December 31, 2016, under “Risks and Uncertainties”, and the Trust’s prospectus supplement to the short form base shelf prospectus dated December 15, 2017 under “Risk Factors” (copies of which can be obtained at Such risks include, without limitation, risks associated with general economic conditions; adverse factors affecting the real estate market generally or those specific markets in which the Trust holds properties; volatility of real estate prices; 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 Trust to implement its business strategies; competition; interest rate fluctuations and other risks. 

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. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Except as required by applicable law, the Trust undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Robert McKeeSandy Poklar
President & Chief Executive OfficerChief Financial Officer
(416) 635-0221(416) 635-0221

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