FCPT Announces Acquisition of a Gerber Collision Property for $1.7 Million

Rhea-AI Summary

Four Corners Property Trust (NYSE:FCPT) has successfully acquired a Gerber Collision property in Wisconsin for $1.7 million. The acquisition features a net lease with approximately nine years remaining, located in a high-traffic area. Priced at a 7.0% capitalization rate (excluding transaction costs), this deal enhances FCPT's portfolio of high-quality, net-leased restaurant properties, aligning with its strategy to expand in the restaurant and retail sectors.

Positive

• Acquisition of Gerber Collision property enhances portfolio.
• Property located in a high-traffic area, promising future growth.
• 7.0% capitalization rate suggests solid investment return.

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 Gerber Collision property for $1.7 million. The property is located in a highly trafficked corridor in Wisconsin and is corporate-operated under a net lease with approximately nine years of term remaining. The transaction was priced at a 7.0% 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/20210818005799/en/

FAQ

What is the value of the Gerber Collision property acquired by FCPT?

The value of the Gerber Collision property acquired by FCPT is $1.7 million.

Where is the Gerber Collision property located?

The Gerber Collision property is located in Wisconsin.

What is the capitalization rate of the acquisition?

The acquisition has a capitalization rate of 7.0%, exclusive of transaction costs.

How many years are left on the lease for the acquired property?

The lease for the acquired property has approximately nine years remaining.

What type of properties does FCPT primarily acquire?

FCPT primarily acquires high-quality, net-leased restaurant properties.