FCPT Announces Acquisition of a Caliber Collision Property for $1.3 Million
November 15 2022 - 6:45PM
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 a Caliber Collision property for $1.3 million. The property is
located in a strong retail corridor in Kentucky and is corporate
operated under a net lease with approximately seven years of term
remaining. The transaction was priced at a 6.7% cap rate including
near term rent increases, credits received at closing, and
exclusive of transaction costs or a 6.5% cap rate on rent as of the
closing date.
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.
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Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Gerry Morgan, 415-965-8032 CFO
Four Corners Property (NYSE:FCPT)
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