From GlobeNewswire:

Firm Capital Property Trust (FCPT) reports financial results for Q4 and full year 2023, with a portfolio of 65 commercial properties, 599 multi-residential units, and 537 manufactured home units. NOI breakdown shows grocery anchored retail at 49%, industrial at 28%. Tenant diversification in place, with top 10 tenants accounting for 31.8% of total net rent. Most of 2023 distributions were Return of Capital (94%) or Non-Taxable (6%). Q4/2023 highlights include net income of $6.8 million, NOI of $9.5 million, and AFFO of $4.7 million. The Trust’s commercial occupancy is 96.5%, multi-residential is 96.9%, and manufactured home communities are at full occupancy. The Trust also announced monthly distributions of $0.0433 per Trust Unit for the coming months. Forward Looking Information statement issued.

Firm Capital Property Trust offers a Distribution Reinvestment Plan (DRIP) and Unit Purchase Plan (UPP) to Unitholders, providing options for reinvesting distributions or purchasing additional units. Management and trustees do not participate in DRIP or UPP and own around 10% of issued trust units. The Trust focuses on creating long-term value for Unitholders through strategic investments in diversified properties including multi-residential, flex industrial, and retail. Forward Looking Information statement provided in press release.



Read more at GlobeNewswire:: Firm Capital Property Trust Reports Solid Q4/2023 Results