1. FCPT acquired a National Veterinary Associates property for $4.4 million. 2. The property is newly constructed and located in Georgia's high-trafficked area. 3. It’s corporate-operated with a 15-year net lease remaining. 4. The acquisition was priced at a 6.7% cap rate on rent. 5. FCPT focuses on leasing high-quality restaurant and retail properties.
FAQ
Why Bullish?
The acquisition adds a valuable asset with a stable, long-term lease, enhancing FCPT's income potential, similar to past acquisitions that bolstered revenue growth. Positive asset acquisitions typically precede favorable market responses.
How important is it?
This acquisition exemplifies FCPT's growth strategy, likely to attract investor interest and positively influence stock performance as it indicates a commitment to expanding its profitable real estate portfolio.
Why Long Term?
The steady income from the long-term lease will support FCPT's revenue over the coming years, fostering investor confidence similar to historical trends after such asset acquisitions.
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 National Veterinary Associates property for $4.4 million. The property is newly constructed and located in a highly trafficked corridor in Georgia and is corporate-operated, under a long term, net lease with approximately 15 years of term remaining. The transaction was priced at a 6.7% 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20251222028220/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO