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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) has acquired a Mr. Tire property in New Jersey for $1.2 million. The property features a net ground lease with approximately ten years remaining. This acquisition, priced at a 6.5% capitalization rate, enhances FCPT's portfolio in a prime location with significant traffic.
FCPT focuses on owning and acquiring high-quality net-leased restaurant and retail properties, aimed at driving future growth.
Four Corners Property Trust (FCPT) announced the acquisition of a Buffalo Wild Wings property in Illinois for
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a Capital One property and a Chuck E. Cheese property for $3.3 million. These properties are located in Maryland and South Carolina, respectively, situated in robust retail areas. Both sites are leased under triple net agreements with an average remaining term of about six years. The cap rate for this transaction aligns with previous acquisitions by FCPT, underscoring a consistent investment strategy in the restaurant and retail sector.
Four Corners Property Trust (NYSE:FCPT) announced the sale of an Applebee’s restaurant property in Michigan for $1.7 million. The transaction was completed with a cap rate consistent with previous sales, resulting in an immaterial gain for FCPT. Proceeds will be reinvested in accordance with the company's investment strategy, utilizing a 1031-Exchange to defer taxes on the sale. However, failure to acquire replacement properties within specified timeframes may trigger tax liabilities at a high rate.
Four Corners Property Trust (NYSE:FCPT) has acquired a VCA Animal Hospital property in Indiana for
Four Corners Property Trust (FCPT) reported impressive financial results for Q2 2022, with rental revenue increasing by 13.6% year-over-year to $47.9 million. Net income attributable to common shareholders was $28.1 million, up from $20.1 million a year ago. The company successfully acquired 26 properties for $54 million, maintaining a high occupancy rate of 99.9%. FCPT also received its second investment-grade rating from Moody’s, enhancing its credit profile. The company declared a dividend of $0.3325 per share for the quarter.
Four Corners Property Trust (NYSE:FCPT) has acquired an Advance Auto Parts property for $928,000 in Michigan. This property, located in a high-traffic area, is leased to the corporate entity with about four years remaining on the lease. The acquisition was made at a capitalization rate of 7.15%, excluding transaction costs. FCPT focuses on owning and acquiring net-leased restaurant and retail properties, aiming to expand its portfolio within these sectors.
Four Corners Property Trust (NYSE:FCPT) has acquired an Advance Auto Parts property for $2.3 million in Illinois. The property is strategically located in a high-traffic area and is corporate-operated under a net lease agreement. The acquisition was secured at a 6.3% capitalization rate, excluding transaction costs, reinforcing FCPT's commitment to expanding its portfolio of quality restaurant and retail properties.
Four Corners Property Trust (NYSE: FCPT) has completed the acquisition of a Caliber Collision property for $1.1 million in Michigan. This property, situated in a highly trafficked area, operates under a corporate net lease with approximately nine years remaining on the term. The acquisition was executed at a 6.6% cap rate, not including transaction costs. This strategic move aligns with FCPT's objective to grow its portfolio of high-quality, net-leased restaurant and retail properties.
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