FCPT Announces Acquisition of an Arby’s Property for $1.9 million

Rhea-AI Summary

Four Corners Property Trust (FCPT) announced the acquisition of an Arby’s property for $1.9 million. The site, located in Ohio, features a triple net lease structure and has approximately five years remaining on its lease term. This acquisition is notable for its 6.7% going-in cash capitalization rate, excluding transaction costs, indicating potential for solid investment returns. FCPT focuses on owning and acquiring high-quality restaurant and retail properties.

Positive

• Acquired Arby’s property in Ohio for $1.9 million.
• Property operates under a triple net lease with five years remaining.
• Transaction priced at a 6.7% 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 an Arby’s property for $1.9 million. The property is located in a strong retail corridor in Ohio and is corporate-operated under a triple net lease with approximately five years of term remaining. The transaction was priced at a 6.7% 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/20210923005912/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 by FCPT?

FCPT recently acquired an Arby’s property for $1.9 million.

Where is the new Arby’s property located?

The property is located in Ohio.

What type of lease is associated with the Arby’s property?

The property is under a triple net lease.

What is the cash capitalization rate for the FCPT acquisition?

The acquisition has a 6.7% going-in cash capitalization rate.

How many years are remaining on the lease for the Arby’s property?

There are approximately five years remaining on the lease.