TORONTO, Sept. 18, 2018 /CNW/ - Firm Capital American
Realty Partners Corp. (the "Company"), (TSXV: FCA.U), (TSXV:
FCA) announces the appointment of current Vice Chairman
Eli Dadouch as President & Chief
Executive Officer and Alex Bloomberg
as Vice President, Investment Portfolio Management of the Company
effective immediately.
Alex brings a number of years of experience as an Investment
Portfolio Manager. Most recently, Alex was an Asset Manager with
Starlight Investments where he worked on a number of initiatives to
maximize value for over 5,000 apartment units in North America. Prior to Starlight, Alex was
with Greenwin Inc., where he worked as a financial analyst. Alex is
a CPA, CMA.
The appointment of Eli Dadouch is
the result of the resignation by Kursat Kacira as both President
& CEO and also as a Director of the Company. The board of
directors wishes to thank Kursat for all of his services.
ABOUT FIRM CAPITAL AMERICAN REALTY PARTNERS CORP.
Firm Capital American Realty Partners Corp. is a U.S. focused real
estate investment entity that pursues real estate and debt
investments through the following platforms:
- Income Producing Real Estate Investments: Acquiring
income producing 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
responsibilities; and
- Mortgage Debt Investments: Real estate debt and equity
lending platform in 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 the sale of its single-family
homes (and the ability to do so for consideration that accords with
the estimated value of the portfolio, as set out above) and
ultimate debt repayments, the use of proceeds from the new loan
described above, the use of proceeds from (and timing of) the
disposition of the Company's portfolio of single family homes
located in Atlanta, potential
capital financing and growth opportunities, as well as the
Company's intention to acquire income producing U.S. real estate
assets and complete joint venture partnerships and mortgage debt
and equity lending investments. 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, debt
repayments 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.