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

Rhea-AI Summary

Four Corners Property Trust (NYSE:FCPT) has acquired a Caliber Collision property for $1.9 million, located in a prime retail area in Wisconsin. The property comes with an 11-year net lease agreement with the corporate operator, providing stable cash flow. The acquisition was made at a 6.6% going-in cash capitalization rate, excluding transaction costs. This purchase reflects FCPT's strategy to expand its portfolio by acquiring high-quality, net-leased properties in the restaurant and retail sectors.

Positive

• Acquisition of a Caliber Collision property for $1.9 million emphasizes portfolio growth.
• Property located in a strong retail corridor enhances market position.
• 11-year net lease guarantees stable cash flow.
• Transaction priced at a favorable 6.6% going-in cash cap rate.

Negative

• None.

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant 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 occupied under a net lease with the corporate operator with approximately 11 years of term remaining. The transaction was priced at a 6.6% 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 acquisition and leasing of restaurant 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/20210312005549/en/

FAQ

What recent acquisition did Four Corners Property Trust (FCPT) make?

FCPT acquired a Caliber Collision property for $1.9 million.

How long is the lease term for the newly acquired Caliber Collision property?

The lease term is approximately 11 years.

What is the cash capitalization rate for the FCPT acquisition?

The acquisition was made at a 6.6% going-in cash capitalization rate.

Where is the new Caliber Collision property located?

The property is located in a strong retail corridor in Wisconsin.