1. FCPT acquires an Olive Garden property for $4.1 million. 2. The property is in a strong retail corridor in North Carolina. 3. The acquisition features a long-term triple net lease. 4. The cap rate aligns with previous FCPT transactions. 5. This acquisition supports FCPT's growth in restaurant and retail sectors.
The acquisition aligns with FCPT's strategy of growth through quality property acquisitions, strengthening its portfolio. Additionally, the steady rent under a long-term lease can provide predictable revenue, positively impacting valuation.
The acquisition demonstrates FCPT's proactive growth strategy and could attract investor interest, increasing the likelihood of stock price appreciation.
As the property generates steady revenue over the long-term lease, FCPT's financial stability and growth trajectory may improve, similar to prior acquisitions that positively affected its market position.
MILL VALLEY, Calif.--(BUSINESS WIRE)-- 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 $4.1 million. The property is located in a strong retail corridor in North Carolina and corporate-operated under a long-term triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.
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