1. FCPT acquires Olive Garden property for $2.2 million. 2. The property is situated in a high-traffic area in Illinois. 3. Transaction priced at a 6.7% cap rate, enhancing revenue potential. 4. The lease is long term with approximately eight years remaining. 5. FCPT continues to expand its net-leased restaurant property portfolio.
FAQ
Why Bullish?
The acquisition of the Olive Garden property enhances FCPT's revenue stream and portfolio stability, with a favorable cap rate further validating the investment strategy, reminiscent of past successful acquisitions that positively impacted stock performance.
How important is it?
The article highlights a strategic acquisition that aligns with FCPT’s business model, likely enhancing investor confidence and long-term growth prospects.
Why Long Term?
The long-term nature of the lease suggests sustained revenue, aligning with FCPT's growth strategy seen in previous acquisitions, which tend to increase in value over time.
Related Companies
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