Firm Capital Apartment REIT posts Q2 loss, plans name change

Firm Capital Apartment Real Estate Investment Trust (TSXV: FCA.U, TSXV: FCA.UN) reported a net loss of $2.09 million for the three months ended June 30, 2026, compared to a net loss of $452,733 in the prior quarter and a net loss of $51,665 in the same period a year earlier, according to a press release.

Excluding non-cash fair value adjustments, the net loss for the second quarter was approximately $4,055, compared to net income of $251,035 in Q1 2026 and $265,458 in Q2 2025. For the six months ended June 30, 2026, net income before fair value adjustments was $246,980, down from $432,584 in the same period last year.

Adjusted funds from operations (AFFO) for Q2 2026 were $7,683, compared to $262,310 in Q1 2026 and $300,732 in Q2 2025. For the first half of 2026, AFFO totaled $269,993, versus $498,159 in the prior-year period.

The Trust reported a net asset value of $5.31 per unit (CAD $7.54).

The Trust said it intends to change its name to Northvest Financial Trust, pending approval from the TSX Venture Exchange. The Trust said it is working toward disposing of its remaining assets, after which it expects to either return capital to unitholders or explore the sale, re-purposing, or re-utilization of the Trust as an alternative platform, including a new business initiative or finance company.

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