FCPT Announces Acquisition of Two Caliber Collisions for $3.8 million

Rhea-AI Summary

Four Corners Property Trust (NYSE:FCPT) has successfully acquired two Caliber Collision properties for $3.8 million. These properties are situated in key retail locations in Colorado and Oklahoma. Both properties are backed by corporate triple net leases, boasting a weighted average lease term of 8.0 years. The acquisition was completed at a 6.5% cash capitalization rate, not including transaction costs. This strategic move aims to enhance FCPT's portfolio in the high-quality net-leased restaurant sector.

Positive

• Acquisition of two Caliber Collision properties valued at $3.8 million.
• Properties located in dense retail corridors, likely to drive foot traffic.
• Both properties have triple net leases with 8.0 years remaining, ensuring steady income.
• Transaction completed at a favorable 6.5% 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 of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of two Caliber Collision properties for $3.8 million. The properties are located in dense retail corridors in Colorado and Oklahoma. Both properties are corporate-operated under triple net leases with a weighted average of 8.0 years of term remaining. The transaction was priced at a 6.5% 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 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.