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Four Corners Property Trust, Inc. (NYSE: FCPT) is a distinguished $2 billion investment-grade rated net lease Real Estate Investment Trust (REIT) that focuses primarily on restaurant real estate. Originating from a spin-off from Darden Restaurants, Inc. in November 2015 with an initial portfolio of 418 properties, FCPT has expanded its reach significantly. Today, the company boasts ownership of over 500 properties across 44 states, housing more than 20 well-known brands.
FCPT's core business revolves around the acquisition, ownership, and leasing of restaurant and retail properties. The company's growth strategy emphasizes portfolio diversification and scaling through strategic acquisitions and sale-leaseback transactions with high-quality credit restaurant operators. This approach ensures a robust real estate foundation and stable revenue streams.
Operating through two main segments, FCPT derives the majority of its revenue from its real estate operations, which include rental revenues generated from leasing properties to tenants in the restaurant and retail sectors. The second segment, restaurant operations, is managed through a taxable REIT subsidiary (TRS) named Kerrow Restaurant Operating Business.
FCPT continually seeks to enhance its portfolio by acquiring additional properties that meet its stringent quality criteria. This strategy not only maximizes returns for shareholders but also strengthens relationships with renowned restaurant operators, ensuring long-term stability and growth.
For more detailed information about Four Corners Property Trust, Inc., visit www.fcpt.com.
Four Corners Property Trust (NYSE:FCPT) announced the acquisition of a Cheesecake Factory property and a dual-tenant Starbucks and AT&T property for $12.3 million. Located in a prime area of Kansas, these corporate-operated properties are under net leases with a weighted average term of approximately seven years. The acquisition is valued at a 6.6% cap rate, excluding transaction costs. This strategic move indicates FCPT's focus on expanding its portfolio of high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (NYSE:FCPT) has acquired a Bubba's 33 restaurant property for $3.1 million. This acquisition marks the final transaction from a previously announced 7-property portfolio worth $17.1 million, with this property located in a high-traffic area of Texas. The newly constructed property is corporate-operated under a triple net lease with about 10 years remaining on the lease. The acquisition caps a series of profitable investments in the high-quality, net-leased restaurant and retail segments.
Four Corners Property Trust (NYSE:FCPT) has acquired two WellNow Urgent Care properties for $6.4 million from ComptonAddy. Located in prime retail areas in Ohio, the newly constructed properties are leased to a corporate operator, boasting a remaining lease term of 10 years. The transaction achieved a 6.2% cap rate on the rent, exclusive of transaction costs. This strategic acquisition enhances FCPT's portfolio, focused on high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (FCPT) has acquired three Caliber Collision properties in Indiana for $5.4 million. The properties are located in high-traffic areas and are corporate-operated under net leases with a weighted average term of approximately five years remaining. This acquisition was executed at a 7.0% cap rate, excluding transaction costs. FCPT, based in Mill Valley, CA, focuses on acquiring and leasing restaurant and retail properties to expand its portfolio.
Four Corners Property Trust (FCPT) has completed the acquisition of a Chili’s property in Florida for $2.6 million, part of a broader transaction with Seritage initiated in October 2019 and expanded in August 2020. This acquisition marks the final purchase from Seritage, bringing FCPT's total properties acquired from this portfolio to 27 for a cumulative value of $80.8 million. The property is under a triple net lease, situated in a robust retail corridor, and the transaction reflects a cap rate consistent with previous FCPT deals.
Four Corners Property Trust (FCPT) has acquired a Firestone property in Missouri for $1.7 million. The acquisition is strategically located in a high-traffic area and is corporate-operated under a net lease with about 5 years remaining. The deal was completed at a 6.7% cap rate on rent, excluding transaction costs. This acquisition aligns with FCPT's strategy to expand its portfolio of net-leased restaurant and retail properties, enhancing potential rental income and market presence.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a BarnesCare occupational medicine clinic in Missouri for $1.8 million. The property is strategically located in a busy area and is corporate-operated under a net lease. The acquisition's pricing was aligned with FCPT's previous transactions, indicating a consistent investment strategy.
Four Corners Property Trust (FCPT) announced the acquisition of a Caliber Collision property in Tennessee for $6.1 million. The property, located in a strong retail corridor, operates under a corporate net lease with approximately seven years remaining. The deal was priced at a 6.7% cap rate, including near-term rent increases and credits received at closing. Excluding transaction costs, the cap rate would be 6.5% based on the rent at closing. This acquisition aligns with FCPT's strategy of growing its portfolio in the restaurant and retail sectors.
Four Corners Property Trust (FCPT) has acquired a Caliber Collision property in Kentucky for $1.3 million. The acquisition is located in a strong retail corridor and features a corporate-operated net lease with approximately seven years remaining. This transaction offers a 6.7% cap rate, considering near-term rent increases and closing credits, with a 6.5% cap rate based on rent at closing. FCPT continues to expand its portfolio of high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (NYSE:FCPT) has acquired a Whataburger property in Florida for $1.2 million. This corporate-operated site is located in a high-traffic area and is secured under a triple net lease with approximately three years remaining. The acquisition was completed at a 6.3% cap rate, excluding transaction costs. FCPT focuses on acquiring high-quality net-leased restaurant and retail properties, aiming to grow its real estate portfolio strategically.
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