Firm Capital Property Trust Announces the Commencement of Monthly
Distribution and Intention to Implement a Distribution Reinvestment
Plan and Unit Purchase Plan
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").
MONTHLY DISTRIBUTION
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 preceding month.
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