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Firm Capital Mortgage Investment Corporation Announces Upsizing of Bought Deal Offering

Aug 02, 2024almost 2 years ago

Contract Type

partnership

Financial Services

Description

Firm Capital Mortgage Investment Corporation has increased the size of its previously announced bought deal offering by entering into an agreement to sell 1,950,000 common shares at a price of $11.30 per Share for gross proceeds of $22,035,000. The net proceeds will be used to repay indebtedness and for general corporate purposes. The offering is expected to close on or about August 8, 2024.

Company Information

Company

Firm Capital Apartment Real Estate Investment Trust

About

Firm Capital Property Trust is focused on creating long-term value for Unitholders, through capital preservation and disciplined investing to achieve stable distributable income. In partnership with management and industry leaders, The Trust’s plan is to own as well as to co-own a diversified property portfolio of multi-residential, flex industrial, net lease convenience retail, and core service provider professional space. In addition to stand alone accretive acquisitions, the Trust will make joint acquisitions with strong financial partners and acquisitions of partial interests from existing ownership groups, in a manner that provides liquidity to those selling owners and professional management for those remaining as partners. Firm Capital Realty Partners Inc., through a structure focused on an alignment of interests with the Trust sources, syndicates and property and asset manages investments on behalf of the Trust.

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Strategic

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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