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BRIEF-Firm Capital American Realty Partners Corp. Announces Full Repayment Of Atlanta Mortgage, Single Family Disposition Program And Brentwood

Published 2018-10-03, 05:27 p/m
BRIEF-Firm Capital American Realty Partners Corp. Announces Full Repayment Of Atlanta Mortgage, Single Family Disposition Program And Brentwood
FCAu
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Oct 3 (Reuters) - Firm Capital American Realty Partners Corp FCAu.V :

* FIRM CAPITAL AMERICAN REALTY PARTNERS CORP. ANNOUNCES FULL REPAYMENT OF ATLANTA MORTGAGE, SINGLE FAMILY DISPOSITION PROGRAM AND BRENTWOOD, MARYLAND JOINT VENTURE UPDATE

* FIRM CAPITAL AMERICAN REALTY PARTNERS - BRENTWOOD, MARYLAND JOINT VENTURE HAS ENTERED INTO A $10.3 MILLION, 4.81% SECURED FIRST MORTGAGE FINANCING

* FIRM CAPITAL AMERICAN REALTY - NEW MORTGAGE HAS A 15 YEAR TERM AND INCLUDES INTEREST-ONLY PERIOD OF SEVEN 7 AND THEN A 30 YEAR AMORTIZATION THEREAFTER

* FIRM CAPITAL AMERICAN - IMMEDIATE ACCRETION IMPACT OF NEW MORTGAGE, IFRS VALUATION INCREASE WILL IMPACT Q3 2018 EARNINGS POSITIVELY BY ABOUT $0.05/SHARE

* FIRM CAPITAL AMERICAN REALTY - JOINT VENTURE HAS BEEN APPROVED TO CONSTRUCT 14 ADDITIONAL APARTMENT UNITS ON SITE FOR EXPECTED COST OF ABOUT $0.8 MILLION

* FIRM CAPITAL AMERICAN REALTY - ACCRETION IMPACT OF 14 APARTMENT UNITS ARE EXPECTED TO IMPACT FUTURE EARNINGS BY AN ADDITIONAL $0.14/SHARE

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