FCPT Announces Acquisition of a Pathway Vet Alliance Property for $1.8 Million

Rhea-AI Summary

Four Corners Property Trust (FCPT) announced the acquisition of a Pathway Vet Alliance property for $1.8 million. This property is located in a prime retail area in Utah and operates under a triple net lease with approximately 11 years remaining on the lease term. The acquisition comes with a capitalization rate of 6.7%, signaling a solid investment opportunity for the company.

Positive

• Acquisition of a property valued at $1.8 million enhances FCPT's portfolio.
• Property located in a high-traffic retail area, potentially increasing rental income.
• Triple net lease structure with 11 years remaining supports stable cash flow.

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 Pathway Vet Alliance property for $1.8 million. The property is located in a highly trafficked retail corridor in Utah and is corporate-operated under a triple net lease with approximately 11 years of term remaining. The property was priced at a 6.7% 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/20210517005861/en/

FAQ

What is the value of FCPT's recent acquisition?

The recent acquisition by FCPT is valued at $1.8 million.

Where is the new property acquired by FCPT located?

The new property is located in a highly trafficked retail corridor in Utah.

What type of lease is associated with the Pathway Vet Alliance property?

The property operates under a triple net lease.

What is the expected capitalization rate from this acquisition?

The property was priced at a capitalization rate of 6.7%.

How long is the lease term remaining for the new property?

The lease term remaining is approximately 11 years.