Firm Capital Property Trust Announces Closing of Transformational $266 Million Co-Ownership Acquisition with First Capital Realty
|THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES .| TORONTO , May 9, 2019 |CNW| - Firm Capital Property Trust (" FCPT " or the " Trust "), (TSXV: FCD ) is pleased to announce that it has closed its previously announced agreement to acquire (the " Acquisition ") from First Capital Realty Inc. and an affiliate thereof (collectively, " First Capital ") a 50% non-managing interest in six net-leased primarily grocery anchored shopping centres located in Ontario and Quebec (the " Acquisition Portfolio "). The acquisition price for 100% of the Acquisition Portfolio was approximately $266 million , excluding transaction costs. The Trust's portion of the acquisition price was approximately $133 million . The Acquisition Portfolio is comprised of six properties totaling 1,022,600 square feet of GLA (at a 100% interest) located in Ottawa, Ontario
Firm Capital Property Trust Announces Closing of Transformational $266 Million Co-Ownership Acquisition with First Capital Realty
|THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES .| TORONTO , May 9, 2019 |CNW| - Firm Capital Property Trust (" FCPT " or the " Trust "), (TSXV: FCD ) is pleased to announce that it has closed its previously announced agreement to acquire (the " Acquisition ") from First Capital Realty Inc. and an affiliate thereof (collectively, " First Capital ") a 50% non-managing interest in six net-leased primarily grocery anchored shopping centres located in Ontario and Quebec (the " Acquisition Portfolio "). The acquisition price for 100% of the Acquisition Portfolio was approximately $266 million , excluding transaction costs. The Trust's portion of the acquisition price was approximately $133 million . The Acquisition Portfolio is comprised of six properties totaling 1,022,600 square feet of GLA (at a 100% interest) located in Ottawa, Ontario