FCD.UN Firm Capital Property Trust

Firm Capital Property Trust (the “Trust”) (TSXV: FCD.UN) is providing the following update regarding its upcoming annual and special meeting of unitholders (the “Meeting”) to be held on August 26, 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. 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 PROPERTY TRUST (TSXV: FCD.UN)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, 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 stand alone 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 property and asset manages investments on behalf of the Trust. For additional information, please visit www.sedar.com or the Trust’s website at www.firmcapital.com.

FORWARD LOOKING INFORMATIONThis 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. 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.

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 Trust is available at www.firmcapital.com or www.sedar.com.

For further information, please contact:

Robert McKee	Sandy Poklar
President & Chief Executive Officer	Chief Financial Officer
(416) 635-0221	(416) 635-0221

For Investor Relations information, please contact:

Victoria MoayediDirector, Investor Relations(416) 635-0221