Firm Capital Property Trust Announces Closing of Previously Announced Sale of Its 50% Interest in a 159,470 Square Foot Industrial Building Located in Montreal for $27.9 Million

Core Viewpoint - Firm Capital Property Trust has successfully closed the sale of a 100% interest in an industrial facility for approximately $27.9 million, allowing for reinvestment into smaller multi-tenant industrial units and reducing exposure to large tenants [1][2][3]. Group 1: Sale Details - The industrial facility sold was 159,470 square feet and was part of the Montreal Industrial Portfolio Joint Venture since 2018, originally purchased for$11.0 million [2]. - The Trust's portion of the gross proceeds after closing costs is approximately $13.8 million, contributing to a gain on sale of approximately$16.0 million for the Montreal Industrial JV [1][4]. Group 2: Financial Impact - The sale is expected to increase the capital gains portion of the Trust's 2025 distribution by approximately $0.18 per Trust Unit, compared to$0.08 per Trust Unit in 2024 [4]. - The Trust plans to use its net proceeds to repay debt on its revolving credit facility and fund future acquisitions in grocery-anchored retail, multi-tenant industrial, and multi-residential rentals [3]. Group 3: Strategic Focus - Firm Capital Property Trust aims to create long-term value through capital preservation and disciplined investing, focusing on a diversified property portfolio that includes multi-residential, flex industrial, and net lease convenience retail [5]. - The Trust will pursue both standalone acquisitions and joint acquisitions with strong financial partners to enhance liquidity and management [5].