{"url":"https://newsforagent.com/news/2026-11-02/first-capital-q3-debt-ratio","markdown_url":"https://newsforagent.com/news/2026-11-02/first-capital-q3-debt-ratio.md","title":"First Capital Reports 8.9x Debt Ratio for Third Quarter","headline":"First Capital REIT Posts 8.9x Net Debt Multiple and $0.6 billion Liquidity at September 30","description":"First Capital REIT reported an 8.9x net debt-to-Adjusted EBITDA multiple at September 30, 2026, down from 9.1x at year-end.","section":"Earnings & Results","published_at":"2026-11-02T22:23:42+00:00","modified_at":"2026-11-02T22:23:42+00:00","author":"News Desk","key_takeaways":["First Capital reported a September 30, 2026 net debt-to-Adjusted EBITDA multiple of 8.9x, down from 9.1x at December 31, 2025 and 9.2x a year earlier.","Liquidity was approximately $0.6 billion, including $523 million in facility availability and $34 million of cash on a proportionate basis.","First Capital holds $6.6 billion of unencumbered assets, equal to 70% of total assets.","First Capital is pending acquisition by KingSett Capital and Choice Properties REIT in a C$9.4 billion transaction expected to close in the fourth quarter of 2026."],"companies":[{"name":"First Capital","is_primary":true,"profile_url":"https://akta.pro/company-profiles/0003ga1/first-capital","website":"https://fcr.ca"}],"source":{"publisher":"TradingView","title":"First Capital Real Estate Investment Trust (FCR.UN) Reports Q3 Debt Ratio of 8.9x","url":"https://www.tradingview.com/news/tradingview:82a67cde12515:0-first-capital-real-estate-investment-trust-fcr-un-reports-q3-debt-ratio-of-8-9x/"},"other_sources":[],"tags":["Earnings & Results","First Capital"],"body_markdown":"[First Capital](https://akta.pro/company-profiles/0003ga1/first-capital) reported a September 30, 2026 net debt-to-Adjusted EBITDA multiple of 8.9x, down from 9.1x at December 31, 2025 and 9.2x a year earlier, according to [TradingView](https://www.tradingview.com/news/tradingview:82a67cde12515:0-first-capital-real-estate-investment-trust-fcr-un-reports-q3-debt-ratio-of-8-9x/). Liquidity stood at approximately $0.6 billion. First Capital REIT owns, operates and develops grocery-anchored open-air shopping centres across Canada and is pending acquisition by KingSett Capital and Choice Properties REIT.\n\n## First Capital's Third-Quarter Leverage and Liquidity\n\nThe 8.9x multiple compares with 9.1x at December 31, 2025 and 9.2x a year earlier. Liquidity of approximately $0.6 billion includes $523 million in facility availability and $34 million of cash, with the amounts reported on a proportionate basis. First Capital listed $6.6 billion of unencumbered assets, equal to 70% of total assets. The release did not include earnings or operating figures.\n\n## First Capital's Pending C$9.4 Billion Takeover\n\nAccording to akta.pro [company records](https://akta.pro/company-data), First Capital agreed in April 2026 to be acquired by KingSett Capital and Choice Properties REIT in a C$9.4 billion transaction at C$24.40 per unit, split 79% cash and 21% Choice Properties units, a 17% premium to the 20-day VWAP. Choice Properties is to acquire about C$5.0B of necessity-based assets and KingSett about C$4.4B of remaining assets. George Weston Limited, Choice Properties' parent, committed a C$0.6 billion strategic equity investment toward Choice Properties' portion of the consideration.\n\n## First Capital's Distributions and Earnings Schedule\n\nFirst Capital REIT announced a November 2026 cash distribution of $0.076 per REIT unit, annualized to $0.912, payable December 15, 2026 to unitholders of record as of November 30, 2026, Newswire reported. The REIT said it would release its third-quarter 2026 financial statements and management discussion on November 2, 2026, with no conference call to follow, after the April 16 announcement of the acquisition, The future of trading reported. In October 2026, First Capital declared a $0.076 per unit distribution for October, payable November 16, 2026 to unitholders of record as of October 30, 2026, annualizing to $0.912 per unit, Newswire reported.\n\n## First Capital's Fourth-Quarter Closing\n\nThe acquisition arrangement requires approvals and is expected to close in the fourth quarter of 2026.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}