FCPT Announces Acquisition of a Caliber Collision Property for $1.9 Million

Rhea-AI Summary

Four Corners Property Trust (FCPT) has acquired a Caliber Collision property in Wisconsin for $1.9 million. The property is situated in a robust retail corridor and is corporate-operated with approximately nine years left on the lease. The acquisition has a going-in cash capitalization rate of 6.3%, indicating a solid return potential. This purchase is part of FCPT's strategy to expand its net-leased restaurant and retail property portfolio. The transaction is expected to strengthen FCPT’s position in the market.

Positive

• Acquisition of a Caliber Collision property enhances portfolio value.
• Transaction priced at a favorable 6.3% going-in cash capitalization rate.

Negative

• None.

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 a Caliber Collision property for $1.9 million. The property is located in a strong retail corridor in Wisconsin and is corporate-operated with approximately nine years of term remaining. The transaction was priced at a 6.3% going-in cash capitalization rate, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005896/en/

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Gerry Morgan, 415-965-8032

CFO

Source: Four Corners Property Trust

FAQ

What recent acquisition did FCPT announce?

FCPT announced the acquisition of a Caliber Collision property for $1.9 million.

What is the location of the newly acquired property by FCPT?

The acquired Caliber Collision property is located in Wisconsin.

What is the cash capitalization rate for FCPT's recent acquisition?

The acquisition was priced at a 6.3% going-in cash capitalization rate.

How long is the lease term remaining for the Caliber Collision property?

The Caliber Collision property has approximately nine years remaining on its lease.