{"schema_version":"secwatch.filing_event.v1","accession":"0001731122-24-000299","form_type":"8-K","ticker":null,"cik":"0001536256","company_name":"First Capital Real Estate Trust Inc","filed_at":"2024-02-23T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.541203+00:00","generated_at":"2026-06-05T17:00:35.372770+00:00","sec_items":["2.01","2.06","3.01","4.01","5.02","8.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"First Capital Real Estate Trust loses only asset; board votes to wind up company","bullets":["Arbor-Myrtle Beach PE LLC enforced preferred equity rights, taking control of medical office building in SC; company received no consideration.","Company is functionally insolvent with no liquidity; financial statements rebuilt from minimal records after former CEO left.","Board voted to wind up the company, satisfy creditors, and then distribute any remaining assets to shareholders.","Former CEO Suneet Singal departed in 2019, was indicted by SEC, later settled, fined and banned from management in SEC-regulated entities.","Company was delisted by SEC in Dec 2019; certifying accountant resigned in 2021 due to non-payment."],"urls":{"canonical":"https://secwatch.observer/filing/0001731122-24-000299","json":"https://secwatch.observer/filing/0001731122-24-000299.json","markdown":"https://secwatch.observer/filing/0001731122-24-000299.md","text":"https://secwatch.observer/filing/0001731122-24-000299.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1536256/000173112224000299/0001731122-24-000299-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1536256/000173112224000299/e5445_8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T17:00:35.372770+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d73a3c092afd95eece58451b32fdf5414de5efcc","claim":"Company’s certifying accountant resigned as auditor of First Capital Real Estate Trust Inc.","evidence_excerpt":"The Company’s certifying accountant resigned from its position in 2021 as the Company’s inability to satisfy its accounts payable obligations.","evidence_source":"SEC 8-K Item 4.01/4.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1536256/000173112224000299/0001731122-24-000299-index.htm","confidence":0.9,"family_label":"Auditor Changes","details":[{"label":"Action","value":"resignation"},{"label":"Auditor","value":"Company’s certifying accountant"}],"fact_type":"auditor_change"},{"claim_id":"f4932cd32b","claim":"Mr. Forelle was appointed as interim consulting CEO at First Capital Real Estate Trust Inc.","evidence_excerpt":"In July 2020, Mr. Forelle was appointed interim consulting CEO reporting to the board.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1536256/000173112224000299/0001731122-24-000299-index.htm","confidence":0.9,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"interim consulting CEO"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}