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FCPT Announces Acquisition of Three Christian Brothers Automotive Properties for $9.6 Million

1. FCPT acquired three Christian Brothers Automotive properties for $9.6 million. 2. The properties are in strong retail areas and have long-term leases. 3. The transaction cap rate aligns with FCPT's previous deals.

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FAQ

Why Bullish?

The acquisition strengthens FCPT's portfolio in prime locations, similar past acquisitions boosted price.

How important is it?

Acquisition strategies have historically boosted stock performance, enhancing long-term value.

Why Long Term?

This acquisition positions FCPT for sustained growth, reminiscent of previous successful transactions.

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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 three Christian Brothers Automotive properties for $9.6 million. Christian Brothers Automotive is an auto repair business with over 250 locations across 30 states, known for its customer-first approach and commitment to high-quality service. The properties are located in strong retail corridors in Alabama, Colorado, and Louisiana and are occupied under long term, triple net leases with a weighted average 12 years of term remaining. 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

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