1. FCPT acquires a Crash Champions property for $2.6 million. 2. The property is in a strong retail corridor in Ohio. 3. The deal features a 7.2% cap rate with nine years remaining on the lease. 4. FCPT aims to expand its portfolio of net-leased restaurant and retail properties.
FAQ
Why Bullish?
The acquisition at a favorable cap rate enhances FCPT’s portfolio quality and potential returns.
How important is it?
This strategic acquisition underlines FCPT's growth strategy, likely appealing to both investors and market analysts.
Why Long Term?
The long-term lease ensures steady cash flow, positively impacting FCPT's financial health over time.
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 Crash Champions property for $2.6 million. The property is located in a strong retail corridor in Ohio and is corporate-operated under a long term, net lease with approximately nine years of term remaining. The transaction was priced at a 7.2% cap rate including rent credits received at closing 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20251223998527/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO