1. FCPT acquired a Crash Champions property for $2.6 million. 2. The property is in a strong retail corridor in Ohio. 3. Transaction reflects a 7.2% cap rate after rent credits. 4. Property has approximately nine years remaining on its lease. 5. The acquisition aligns with FCPT's growth strategy in retail properties.
The acquisition at a decent cap rate strengthens FCPT's portfolio. Similar past acquisitions have positively impacted share prices.
The acquisition is a strategic move that enhances growth potential. Market conditions favor REITs with stable income streams from long-term leases.
Long-term leases support consistent revenue. Historical data shows that long-term investments improve stock stability.
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
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Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO