1. FCPT acquired an Outback Steakhouse property for $2.4 million. 2. The property has a 6.8% cap rate and eight years remaining lease. 3. Acquisition enhances FCPT's portfolio of net-leased retail properties. 4. The property is located in a highly trafficked area in Missouri. 5. FCPT aims to continue expanding its restaurant and retail real estate.
The acquisition of a high-quality restaurant property at a favorable cap rate indicates strong growth potential for FCPT. Historically, similar acquisitions have led to positive stock performances for REITs in stable markets.
This news directly impacts FCPT's operational capacity and revenue streams, making it highly relevant for investors and market analysts.
This acquisition should provide stable cash flows and asset appreciation over time, enhancing FCPT’s long-term value. Successful integrations of leased properties often result in 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 Outback Steakhouse property for $2.4 million. The property is located in a highly trafficked corridor in Missouri and is corporate-operated under a triple net lease with approximately eight years of term remaining. The transaction was priced at a 6.8% 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/20251017240995/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO