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Firm Capital Corporation

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Firm Capital, since 1988, operates as a boutique alternative private equity real estate firm with proprietary capital in partnership with various capital pools, partnerships, private and public equity funds.

Investor website: https://firmcapital.com/

About

Firm Capital, since 1988, operates as a boutique alternative private equity real estate firm with proprietary capital in partnership with various capital pools, partnerships, private and public equity funds. The company focuses on the highest ethical standards and has an exceptional track record in lending, financing, owning, investing, joint venturing, and managing real estate across Canada. Firm Capital specializes in Mortgage Operations, Real Estate Operations, and Special Situation Investments, managing approximately $5 billion in mortgage and real estate related assets.

Verified company data

Shares outstanding
36.7 million
Projects
["Firm Capital Property Trust announces acquisition of a 50% interest in two manufactured home communities for $5.7 million. Toronto, Ontario, February 2, 2023. Firm Capital Property Trust (\"FCPT\" or the \"Trust\") (TSX : FCD.UN) is pleased to announce the acquisition of a 50% interest in a 56 site Manufactured Housing Community (“MHC”) called SunPark Parkhill Estates (“Parkhill”) for $3.1 million and the acquisition of a 50% interest in a 58 site Manufactured Housing Community (“MHC”) called SunPark Skyview Estates (“Skyview”) for $2.6 million (collectively the “Properties”). The acquisition price for 100% of the Properties is approximately $5.7 million, excluding transaction costs. The Trust's portion of the acquisition price is approximately $2.85 million. Parkhill, located in Peterborough, Ontario; is situated on 15.9 acres of land and is currently 100% occupied. Parkhill is conveniently located within a fifteen minute drive to downtown Peterborough and is alongside Highway 7 & 28. Parkhill was developed in 1968 and is an owner-managed community owned by the current ownership group since 1980. Parkhill features private water and sewers, paved roads, street lighting, and above ground electrical infrastructure provided by Hydro One. Parkhill was acquired at a 6.8% capitalization rate. Skyview, located in Trenton, Ontario, is located on 5.3 acres of land and is currently 100% occupied. Skyview is conveniently located close to schools, shopping, downtown restaurants, and entertainment with easy access to Highway 401. Skyview is an original owner-managed community owned by the current ownership group and developed in 1980. Skyview features city water and sewer, paved roads, street lighting, and above ground electrical infrastructure provided by Hydro One. Skyview was acquired at a 6.2% capitalization rate. The Properties will initially be funded through existing cash resources of the Trust. Seven year debt financing for approximately 65% of the purchase price is expected to be closed during the first quarter of 2023. Based on the current interest rate environment the all in rate would be approximately 4.75%. The Trust will participate through its existing joint venture arrangement with SunPark Communities, LP (“SunPark”), such that the Trust will own 50% of the Property and SunPark the remaining 50%. SunPark is partially affiliated with members of the board and senior management of the Trust. This co-investment is consistent with the Trust’s objective of being aligned with strong real estate industry partners and represents our third and fourth acquisition with the partnership."]
Leadership
Eli Dadouch (President & CEO), Jonathan Mair, C.A. (Executive Vice President & Chief Operating Officer), Sandy Poklar, CPA, CA (Executive Vice President, Managing Director, Finance), Ryan M. Lim, CPA, CA (Chief Financial Officer), Victoria Granovski (Senior Vice President, Credit & Equity Capital, Secretary), Michael Warner (Senior Vice President of Mortgage Lending), Robert McKee (President, CEO & Trustee), Stanley Goldfarb, F.C.A. (Chairman & Independent Director, CEO, Goldfarb Management Services Limited), Morris Fischtein (Independent Director, President, High City Holdings Limited), Anthony Heller (Independent Director, President, Plazacorp Investments Limited), Larry Shulman, CPA, CA (Independent Director, President, Rabbim Company Finance Inc.), Keith Ray, CPA, CA (Independent Director, President, Realvest Management), Geoffrey Bledin, CPA, CA (Independent Director, Trustee, Firm Capital Property Trust, Chairman; Firm Capital Apartment Real Estate Investment Trust), The Honourable Joe Oliver, PC (Independent Director, Former Minister of Finance), The Honourable Francis (Frank) J.C. Newbould (Independent Director, Former Justice at the Ontario Superior Court of Justice), Michael Warner (Director), Eli Dadouch (Director), Jonathan Mair, CPA, CA (Director), Victoria Granovski (Director)

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