FCPT Announces Acquisition of a Caliber Collision Property for $3.0 Million

Rhea-AI Summary

Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a Caliber Collision property located in Pennsylvania for $3.0 million. The property is corporate-operated and has approximately eight years remaining on its lease term. This transaction was executed at a 6.2% going-in cash capitalization rate, excluding transaction costs. FCPT continues to focus on expanding its portfolio by acquiring high-quality, net-leased restaurant and retail properties.

Positive

• Acquisition of a corporate-operated property expected to enhance revenue streams.
• Transaction completed at a favorable 6.2% 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 $3.0 million. The property is located in a dense corridor in Pennsylvania and is corporate-operated with approximately eight years of term remaining. The transaction was priced at a 6.2% 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/20211230005291/en/

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO



Gerry Morgan, 415-965-8032

CFO

 

Source: Four Corners Property Trust

FAQ

What is the recent acquisition made by FCPT?

FCPT acquired a Caliber Collision property in Pennsylvania for $3.0 million.

What is the significance of the cash capitalization rate in FCPT's acquisition?

The acquisition was executed at a 6.2% going-in cash capitalization rate, which is favorable for investors.

How long is the lease term for the acquired property?

The property has approximately eight years remaining on its lease term.

What is the location of the acquired property?

The acquired Caliber Collision property is located in Pennsylvania.

How does this acquisition impact FCPT's portfolio?

This acquisition enhances FCPT's portfolio by adding a high-quality, net-leased property.