TORONTO, Oct. 23, 2018 /CNW/ - Firm Capital American
Realty Partners Corp. (the "Company"), (TSXV: FCA.U), (TSXV:
FCA) is pleased to announce that as a result of the disposition of
its single family homes to date and ultimate debt repayment
combined with accretive acquisition activity, will be implementing
a 5% dividend increase to $0.236 per
Share per annum effective January, 2019. This equates to a
quarterly dividend of $0.059 per
Share.
As a result, the Company is pleased to announce that it has
declared and approved the following quarterly dividends:
- $0.05625 per Share for
shareholders of record on December 31,
2018 payable on or about January 15,
2019; and
- $0.059 per Share for shareholders
of record on March 29, 2019 payable
on or about April 15, 2019.
In addition, the Company would like to remind shareholders of
the following:
- Net Asset Value ("NAV"): As reported in its Q2/2018
quarterly results, the Company announced that NAV was $8.10 per Share based on an IFRS book value of
equity of approximately $49.6
million. Since Q3/2017, the Company has experienced a +3%
increase in its NAV due to many of its value-add initiatives being
completed. Further, the Company's stock currently trades at a
discount to NAV; and
- Dividend Reinvestment Plan and Share Purchase Plan: The
Company would like to remind shareholders of its Dividend
Reinvestment Plan ("DRIP") and Share Purchase Plan
(collectively the "Plans"). The Plans enable shareholders to
increase their investment in the Company by receiving dividend
and/or optional cash payments in the form of common shares of the
Company. Under the terms of the DRIP, shareholders may elect to
automatically reinvest all or a portion of their quarterly
dividends in additional shares without incurring brokerage fees or
commissions. A minimum purchase of US$3,000 of each calendar quarter and maximum
purchases of up to US$12,000 per year
are permitted under the DRIP.
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.
