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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 dual-tenant property in Florida for $4.5 million. The property is leased to DaVita Kidney Care and Nephrology Associates, featuring a total remaining lease term of six years and an annual rent increase of 2.5%. The transaction reflects a going-in cash capitalization rate of 6.75%. This acquisition aligns with FCPT's strategy to expand its portfolio of net-leased restaurant and retail properties.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a Red Lobster restaurant property for $1.9 million. Located in a prime retail area in New York, the property is operated under a long-term, triple net ground lease with 8 years remaining. The acquisition was made at a 6.4% going-in cash capitalization rate, excluding transaction costs. This move aligns with FCPT's strategy to expand its portfolio of net-leased restaurant and retail properties.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a Caliber Collision property located in Pennsylvania for $3.0 million. The property is corporate-operated and has approximately eight years remaining on its lease term. This transaction was executed at a 6.2% going-in cash capitalization rate, excluding transaction costs. FCPT continues to focus on expanding its portfolio by acquiring high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (NYSE:FCPT) has acquired a Portillo’s restaurant property in Wisconsin for
With this acquisition, FCPT has now purchased a total of 25 properties worth
Four Corners Property Trust (FCPT) has announced the acquisition of two outparcel properties for $2.8 million, leased to Red Robin and AT&T. These properties, located in strong retail corridors in Idaho and Missouri, are corporate-operated under net leases with an average term of 3 years remaining. The transaction aligns with FCPT's strategy of expanding its portfolio of high-quality, net-leased restaurant and retail properties, priced at a capitalization rate consistent with previous transactions.
Four Corners Property Trust (FCPT) has acquired three Mr. Tire properties in Maryland for $2.5 million. This acquisition is supported by a master lease to a corporate entity with approximately 8 years remaining on the lease term. The properties were priced with a 6.5% going-in cash capitalization rate, not including transaction costs. FCPT focuses on owning and acquiring high-quality, net-leased restaurant and retail properties to expand its portfolio in the restaurant and retail sectors.
Four Corners Property Trust (FCPT) has successfully acquired two WellNow Urgent Care properties for $5.4 million. These strategically located properties are situated in high-traffic areas of New York, with both leases held by the corporate entity. The acquisition's pricing aligns with FCPT's historical cap rates, signaling a positive investment move for the company. This transaction reflects FCPT's ongoing strategy to expand its portfolio of high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (NYSE:FCPT) has acquired a Circle K property in Illinois for
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of two Express Oil Change properties for $4.6 million. The properties, located in high-traffic areas of Mississippi, are leased to a corporate entity. This transaction was completed at a 6.3% going-in cash capitalization rate, excluding transaction costs. FCPT focuses on acquiring net-leased restaurant and retail properties, aiming to expand its portfolio and increase revenue potential.
Four Corners Property Trust (NYSE:FCPT) has acquired a Jack in the Box restaurant property for $1.2 million in Arizona. The property, situated in a high-traffic area, is occupied by a franchisee under a triple net lease with about five years left on the term. This transaction was executed at a 6.8% going-in cash capitalization rate, not including transaction costs. This acquisition aligns with FCPT's strategy of expanding its portfolio in the restaurant and retail sectors.
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