1. FCPT acquired a Christian Brothers Automotive property for $4.3 million. 2. The property is located in a high-traffic retail area in Illinois. 3. The lease is secured by a long-term corporate guarantee. 4. The transaction cap rate aligns with prior FCPT acquisitions. 5. FCPT aims to grow its net-leased real estate portfolio.
The stable acquisition in a strong location supports FCPT’s growth strategy. Historical acquisitions in prime areas have positively influenced FCPT’s stock price.
The acquisition signifies growth and stability for FCPT, impacting investor confidence. The long-term corporate guarantee reduces risk, making the investment more attractive.
This acquisition strengthens FCPT's portfolio, potentially enhancing future revenue stability. Previous similar transactions have led to sustained price appreciation over time.
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 via sale-leaseback of a Christian Brothers Automotive property for $4.3 million. The property is located in a strong retail corridor in Illinois with high traffic and attractive demographics. The property is under a long-term lease guaranteed by the corporate entity. 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