05:27 PM EDT, 05/28/2024 (MT Newswires) -- Firm Capital Apartment Real Estate Investment Trust (FCA-U.V) said Tuesday it will redeem all of its outstanding $18.7 million aggregate principal amount of 6.25% convertible unsecured subordinated debentures due June 30, 2026, on July 2.

On the redemption date, the trust will pay holders of the securities a redemption price equal to $1,000 for each $1,000 principal amount and all accrued and unpaid interest up to but excluding the redemption date.

The REIT intends to use cash on hand to fund the redemption.