Firm Capital Apartment Real Estate Investment Trust Announces 100% Return of Capital for 2020 Distributions and Trust Unit Purchases

All amounts in US dollars unless otherwise stated.

TORONTO, March 3, 2021 (GLOBE NEWSWIRE).trust”), (TSXV: FCA.U), (TSXV: FCA.UN) is pleased to announce that its 2020 distributions have been tax efficient for Shareholders as they have achieved a 100% return on investment. The 100% return on investment exceeds the projected 85% when the trust was converted from corporation in early 2020.

In addition, the trust’s management and board of trustees purchased 105,865 trust units of the trust in the market last month at a weighted average price of USD 5.90 per trust unit. As a result, the senior management and board of trustees now control approximately 27% of the trust.

Based on the current trading price of USD 6.35 per trust unit, the current distribution yield is approx. 3.7%. This is the highest dividend yield among REIT peers with multiple residential areas.

For more information on the trust, please visit the Firm Capital Apartment Real Estate Investment Trust link at www.firmcapital.com.

ABOUT THE TRUST OF CAPERAL AMERICAN REALTY PARTNERS

Firm Capital Apartment Real Estate Investment Trust is a US-focused real estate investment trust that makes real estate and related debt investments in apartment buildings both 100% and in joint ventures. The trust has interests in a total of 2,308 residential units in Florida, Connecticut, Texas, New York, New Jersey, Georgia and Maryland.

CAUTION NOTE ABOUT FUTURE DECLARATIONS

Certain information in this press release constitutes forward-looking statements within the meaning of applicable securities law. All statements in this press release that are not historical facts may be considered forward-looking statements. Forward-looking statements are often identified by words such as “may,” “should,” “anticipate,” “expect,” “intend,” and similar expressions.

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Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions. adverse factors affecting the US real estate market in general or the specific markets in which the Trust holds real estate; Real estate price volatility; Inability to access sufficient capital from internal and external sources and / or inability to access sufficient capital on favorable terms; Industry and government regulations; Changes in legislation, income tax and regulatory matters; the trust’s ability to execute its business strategies; Competition; Currency and interest rate fluctuations and other risks. Additional risk factors that could affect the Trust or cause actual results and performance to differ from the forward-looking statements contained herein are set out in the Trust’s Annual Information Form under the Risk Factors heading (a copy of which is available in the Trust’s Profile at www.sedar.com).

Readers are cautioned that the above list is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations for which they are made will materialize. Although such information is believed by management to be reasonable at the time of preparation, it could prove to be incorrect and actual results could differ materially from those anticipated. Forward-looking statements in this press release are expressly qualified by this cautionary statement. Except as required by law, the Trust has no obligation to publicly update or revise any forward-looking statements as a result of new information, future events, or for any other reason.

Neither the exchange nor its regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

For further information please contact:

Sandy Poklar

Mark Goldreich

President & Chief Executive Officer

CFO

(416) 635-0221

(416) 635-0221

For information on investor relations, please contact:

Victoria Moayedi
Director, Investor Relations
(416) 635-0221