1. FCPT acquires four Burger King locations for $8.1 million. 2. Properties are in prime retail areas of Ohio, Kentucky, and Virginia. 3. Transaction features long-term triple net leases averaging 19 years. 4. Acquisition priced at a 6.8% cap rate on rent.
The acquisition enhances FCPT's portfolio with stable revenue streams. Historical examples show similar acquisitions led to positive price movements.
The acquisition significantly improves portfolio value, which can lead to higher stock prices. Given the stable nature of fast-food franchise properties, this deal could attract investor interest.
Stable long-term leases provide consistent cash flow, benefiting long-term shareholder value. Past acquisitions have had prolonged beneficial effects.
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 four Burger King properties for $8.1 million from Ampler Restaurant Group via sale-leaseback. The properties are newly constructed and located in strong retail corridors in Ohio, Kentucky, and Virginia and are franchisee-operated under long term, triple net leases with a weighted average 19 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
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Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO