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Firm Capital Property Trust Announces the Sale of Its 50% Interest in a 159,470 Square Foot Industrial Building Located in Montreal for $27.9 Million
Firm Capital Property Trust (TSX: FCD.UN) is selling its 50% interest in a 159,470 sq ft Montreal industrial building for $27.9 million ($13.8 million net to the Trust). The property, held in a joint venture since 2018, was originally purchased for $11 million (100% ownership). The Trust anticipates an $8 million gain on its portion and expects a $0.18 per unit increase in its 2025 capital gains distribution. Proceeds will be used to repay debt and fund acquisitions in grocery-anchored retail, multi-tenant industrial, and multi-residential rentals.
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