1. FCPT acquires a Buffalo Wild Wings property for $2.8 million. 2. The property has a long-term triple net lease, with nine years remaining. 3. Transaction priced at a 6.8% cap rate, benefiting future cash flow. 4. FCPT focuses on acquiring net-leased restaurant and retail properties. 5. This acquisition strengthens FCPT's portfolio in a prime location.
FAQ
Why Bullish?
The acquisition at a favorable cap rate suggests strong future cash flows, enhancing FCPT’s attractiveness. Historically, similar acquisitions have led to increased stock value due to higher rental income visibility.
How important is it?
The acquisition strengthens FCPT's portfolio, enhancing revenue streams and investor confidence, reflecting positively in stock performance potential.
Why Long Term?
The impact will unfold over time as FCPT benefits from the investment's rental income, reflecting positively on its long-term financial health.
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties ("FCPT" or the "Company"), is pleased to announce the acquisition of a Buffalo Wild Wings property for $2.8 million. The property is located in a highly trafficked corridor in New Mexico and is corporate-operated under a long term, triple net lease with approximately nine years of term remaining. The transaction was priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs.
About FCPT
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.
Category: Acquisition
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Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO