From GlobeNewswire: 2024-04-26 17:00:00

Firm Capital Apartment REIT reported a net loss of $0.5 million for Q4 2023, improved from previous quarters. For the full year, net loss was $8.7 million. NAV per Trust Unit is $6.76. Average rent increases noted in Texas and Joint Venture portfolios. The Trust has engaged in asset dispositions as part of its Strategic Review.

The Trust has sold properties in Texas, New Jersey, and is negotiating the sale of a property in Florida. Joint Venture assets in Maryland and Connecticut are also being listed for sale. The Trust continues to hold Preferred Capital Investments earning income. A Normal Course Issuer Bid was initiated to repurchase convertible debentures at a discount.

The Board of Trustees will continue to assess and decide on strategies to maximize value for unitholders. Forward-looking statements may be made regarding the Trust’s future plans. The Trust intends to provide updates on the Strategic Review only when necessary.



Read more at GlobeNewswire:: Firm Capital Apartment REIT Reports Q4/2023 and 2023