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.
Additional information about the Company is available at
www.firmcapital.com or www.sedar.com.
SOURCE Firm Capital American Realty Partners Corp.