Firm Capital Apartment REIT Completes Sale of Maryland Joint Venture Property for $15.9 Million

All figures in $USD unless otherwise noted.
TORONTO, Feb. 02, 2024 (GLOBE NEWSWIRE) -- Firm Capital Apartment Real Estate Investment Trust (the “Trust”), (TSXV: FCA.U), (TSXV: FCA.UN) is pleased to report that it has completed the previously announced (November 8, 2023) sale of its joint venture property located in Maryland for $15.9 million (100% of the property). Net of associated mortgage debt and closing costs, the net sale proceeds were approximately $4.1 million, of which the Trust received approximately $1.1 million given its 25% ownership in the property. The property has a sales price in line with its IFRS value.

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