---
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"
generated_at: "2026-06-05T17:00:35.372770+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# First Capital Real Estate Trust loses only asset; board votes to wind up company

## Summary
- 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.

## SEC filing metadata
- accession: 0001731122-24-000299
- form_type: 8-K
- cik: 0001536256
- company_name: First Capital Real Estate Trust Inc
- filed_at: 2024-02-23T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.01, 2.06, 3.01, 4.01, 5.02, 8.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001731122-24-000299
- JSON: https://secwatch.observer/filing/0001731122-24-000299.json
- Plain text: https://secwatch.observer/filing/0001731122-24-000299.txt

## Key facts
- Auditor Changes
  Company’s certifying accountant resigned as auditor of First Capital Real Estate Trust Inc.
  - Action: resignation
  - Auditor: Company’s certifying accountant
  source text: The Company’s certifying accountant resigned from its position in 2021 as the Company’s inability to satisfy its accounts payable obligations.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1536256/000173112224000299/0001731122-24-000299-index.htm
- Executive change
  Mr. Forelle was appointed as interim consulting CEO at First Capital Real Estate Trust Inc.
  - Action: appointed
  - Role: interim consulting CEO
  source text: In July 2020, Mr. Forelle was appointed interim consulting CEO reporting to the board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1536256/000173112224000299/0001731122-24-000299-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.