FCPT Announces Acquisition of an Olive Garden Property for $2.2 Million
1. FCPT acquires Olive Garden property for $2.2 million. 2. The property has an eight-year lease remaining. 3. Transaction priced at a 6.7% cap rate on rent.
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FAQ
Why Bullish?
Acquisitions often indicate growth potential. Historical data shows acquisitions correlate with positive stock performance.
How important is it?
The acquisition improves FCPT's portfolio, which is essential for investors.
Why Long Term?
Long-term leases and growth strategy enhance sustainability. Similar past acquisitions have shown steady cash flows.
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 Olive Garden property for $2.2 million. The property is located in a highly trafficked corridor in Illinois and is corporate-operated under a long term, triple net lease with approximately eight 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/20251223270331/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO