1. FCPT acquired a VCA Animal Hospital property for $3.4 million. 2. The property boasts a 7.1% cap rate on rent. 3. Located in a high-traffic New Jersey area. 4. Acquisition aligns with FCPT's strategy for growing net-leased portfolio. 5. The lease has approximately eight years remaining.
The acquisition enhances FCPT's portfolio with a stable, income-generating asset, indicative of solid future revenue. Historically, strategic acquisitions like this have positively impacted REIT valuations.
This acquisition may signal growth and stability, thus attracting investor interest and enhancing stock performance. The consistent income stream from net leases is significant for REIT investors.
The benefits from this acquisition will accumulate over the next several years, as the asset yields consistent returns. Similar past acquisitions have shown continued value appreciation 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 VCA Animal Hospital property for $3.4 million. The property is located in a highly trafficked corridor in New Jersey and is corporate-operated under a net lease with approximately eight years of term remaining. The transaction was priced at a 7.1% 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