1. FCPT acquired an Applebee's property for $4.3 million. 2. The property features a triple net lease with seven years remaining. 3. The deal's cap rate is 6.2% for base and 7.4% including percentage rent. 4. Acquisition strengthens FCPT's retail portfolio in a strong market location. 5. FCPT continues to prioritize growth through property acquisitions.
Similar acquisitions have led to positive price movements historically, indicating market confidence.
Acquisitions like this directly influence FCPT's portfolio quality and revenue potential.
With substantial lease terms, this acquisition positions FCPT for sustained revenue growth.
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 an Applebee's property for $4.3 million. The property is located in a strong retail corridor in California and franchisee-operated by Flynn Group under a triple net lease with approximately seven years of term remaining. The transaction was priced at a 6.2% cap rate on base rent and a 7.4% cap rate inclusive of estimated percentage rent both 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/20251222654649/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO