TORONTO, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Firm Capital American Realty Partners Trust (the “Trust”), (TSXV: FCA.UN), (TSXV: FCA.U) is providing the following update regarding its upcoming annual and special meeting of unitholders (the “Meeting”) to be held on August 10, 2020 at 11:00 am.
Given the current circumstances surrounding COVID-19, the location of the Meeting will be the Trust’s head office, located at 163 Cartwright Avenue, Toronto, Ontario, Canada M6A 1V5. The Trust will be strictly restricting physical access to the Meeting to registered unitholders and formally appointed proxyholders and will not be permitting any others (including beneficial unitholders that hold their trust units through a broker or other intermediary) to attend. The Trust intends to resume holding in-person meetings in subsequent years.
The Trust strongly encourages registered unitholders and proxyholders not to attend the Meeting in-person, and unitholders are encouraged to vote using one of the methods described in the management information circular previously mailed to unitholders. The deadline for unitholders to vote by proxy in advance of the Meeting is Thursday August 6 at 11:00 am (Toronto time). Registered unitholders and proxyholders who nonetheless wish to attend in person may be subject to health screening procedures at the entrance and will be asked to socially distance themselves from others at the Meeting.
Unitholders and any other interested persons who are unable or not permitted to attend the Meeting in person have the opportunity to listen to the Meeting live through an audio conference call. Registration to participate in the live call should be completed by following the link provided on the Trust’s website at www.firmcapital.com and, once registered, call-in details will be provided.
ABOUT FIRM CAPITAL AMERICAN REALTY PARTNERS TRUST
Firm Capital American Realty Partners Trust is a U.S. focused real estate investment trust that pursues income producing real estate and mortgage debt investments through the following platforms:
Income Producing Real Estate Investments:
- Core Markets Wholly Owned Investments: The Trust is focused on growing its wholly owned multi-residential property portfolio in large core markets with attention to cities located in Texas, Florida, New Jersey, North and South Carolina, Colorado, Georgia and New York.
- Core and Non-Core Markets: Joint Venture Investments: The Trust will also purchase in both core and non-core markets where it lacks knowledge or experience, partial ownership interests in multi-residential properties with industry leaders as partners. These partners bring both expertise in operations and knowledge, especially in non-core markets. The Trust strives to have a minimum 50% ownership interest and will fund the equity in a combined preferred/common equity investment structure. The preferred equity provides a fixed rate of return for investors in the Trust, resulting in a secured structure ahead of the partners ownership interest, while the common equity provides investors an upside return for investors as the investment meets its targeted objectives.
The Trust currently has ownership interests in a total of 2,073 apartment units diversely located in Florida, Connecticut, Texas, New York, New Jersey, Georgia and Maryland.
Mortgage Debt Investments:
The Trust, using Firm Capital’s 30-year plus experience as a leader in the mortgage lending industry, provides bridge lending of mortgage and preferred capital secured by residential/multi-residential properties.
FORWARD LOOKING INFORMATION
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 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 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; currency and interest rate fluctuations and other risks, including those described in the Trust’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 TSX Venture 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. Additional information about the Trust is available at www.firmcapital.com or www.sedar.com.
| For further information, please contact: | |
| Eli Dadouch | Sandy Poklar |
| President & Chief Executive Officer | Chief Financial Officer |
| (416) 635-0221 | (416) 635-0221 |
| For Investor Relations information, please contact: | |
| Victoria Moayedi | |
| Director, Investor Relations | |
| (416) 635-0221 | |