Firm Capital American Realty Partners Corp (TSE:FCA.UN) has released an update.
Firm Capital Apartment REIT has successfully sold a multi-family property in Florida for $30.5 million, with net proceeds of approximately $12 million after expenses and mortgage debt. The Trust plans to use part of these proceeds for working capital and to reduce debt, including an early redemption of their 6.25% convertible debentures due in 2026. The debentures will be bought back at their principal value plus any accrued interest by July 2, 2024, using cash on hand.
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