Firm Capital Property Trust Acquires 50% Interest in MHC Site in Didsbury, Alberta

-- Firm Capital Property Trust (FCD-UN.TO) has acquired a 50% interest in a 103 site manufactured home community (MHC) in Didsbury, Alberta, for $8.5 million.

The purchase price is for full ownership of the community, excluding transaction costs. Firm Capital closed on this acquisition through its joint venture arrangement with SunPark Communities, so that the trust owns 50% of this MHC and SunPark the remaining 50%.

The trust is also purchasing a 50% stake in a 10 property, 1,649 site MHCs in Alberta and Saskatchewan for $218 million (100% ownership). That acquisition is expected to close in the second quarter. Firm Capital is also purchasing these MHCs through its SunPark joint venture.

Firm Capital units closed up $0.09, to $6.50, on Tuesday on the Toronto Stock Exchange.

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Firm Capital Property Trust Acquires 50% Interest in MHC Site in Didsbury, Alberta

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