FCPT Announces Acquisition of a Caliber Collision Property for $3.3 million

Rhea-AI Summary

Four Corners Property Trust (NYSE:FCPT) has acquired a Caliber Collision property in Indiana for $3.3 million. This newly constructed property is situated in a prime retail corridor and comes with a triple net lease for approximately 15 years to the corporate entity of the brand. The acquisition pricing aligns with previous transactions by FCPT, indicating a consistent cap rate strategy.

Positive

• Acquisition of Caliber Collision property expands FCPT's portfolio.
• Property has a strong location in a highly trafficked area.
• Triple net lease with approximately 15 years remaining ensures stable income.

Negative

• None.

MILL VALLEY, Calif.--(BUSINESS WIRE)--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 $3.3 million. The property is newly constructed and located in a strong retail corridor in a highly trafficked corridor in Indiana and is operated under a triple net lease to the brand’s corporate entity with approximately 15 years of term remaining. 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 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.