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BRIEF-Firm Capital Property Trust Announces Cash Generating Refinancing Activity

Published 2018-08-13, 06:53 p/m
BRIEF-Firm Capital Property Trust Announces Cash Generating Refinancing Activity
FCD_u
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Aug 13 (Reuters) - Firm Capital Property Trust FCD_u.V :

* ANNOUNCES CASH GENERATING REFINANCING ACTIVITY

* PRINCIPAL BALANCE OF MORTGAGE AT MATURITY WAS $29.4 MILLION, WHILE TRUST'S PORTION WAS $14.7 MILLION

* NEW MORTGAGE IS A $42.0 MILLION FIRST MORTGAGE FIXED AT AN INTEREST RATE OF 4.0% WITH A 25 YEAR AMORTIZATION

* IN ADDITION, A $1.0 MILLION REVOLVING CREDIT FACILITY WAS ALSO PROVIDED BY BANK

* NET CASH RECEIVED FROM REFINANCING IS APPROXIMATELY $6.3 MILLION

* TRUST'S PORTION OF NEW MORTGAGE IS $21.0 MILLION AND $0.5 MILLION FOR REVOLVING CREDIT FACILITY, RESPECTIVELY

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