FCPT Announces Acquisition of a Kum & Go Property for $1.6 Million

Rhea-AI Summary

Four Corners Property Trust (NYSE:FCPT) has acquired a Kum & Go convenience store property for $1.6 million. Located in a busy area in Oklahoma, this corporate-operated facility is under a triple net lease with about four years remaining. The acquisition was made at a 6.85% capitalization rate, excluding transaction costs, indicating a strategic purchase that may enhance FCPT's portfolio.

Positive

• Acquired Kum & Go property for $1.6 million, enhancing portfolio
• Property located in a high-traffic area, potentially increasing footfall
• Corporate-operated under triple net lease with four years remaining
• Acquisition priced at a 6.85% capitalization rate, indicating solid investment return potential

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 Kum & Go convenience store property for $1.6 million. The property is located in a highly trafficked corridor in Oklahoma and is corporate-operated under a triple net lease with approximately four years of term remaining. The transaction was priced at a 6.85% 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.

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FAQ

What property did FCPT acquire recently?

FCPT recently acquired a Kum & Go convenience store property for $1.6 million.

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

The property is located in a highly trafficked corridor in Oklahoma.

What is the capitalization rate for the FCPT acquisition?

The acquisition was priced at a 6.85% capitalization rate.

How long is the lease term for the Kum & Go property acquired by FCPT?

The Kum & Go property has approximately four years remaining on its lease.