FCPT Announces Acquisition of a Portfolio of 3 Caliber Collision Properties for $5.4 Million
November 29 2022 - 4:57PM
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 three Caliber Collision properties for $5.4 million. The
properties are located in highly trafficked corridors in Indiana
and are corporate-operated under net leases with a weighted average
of approximately five years of term remaining. The transaction was
priced at a 7.0% cap rate, exclusive of transaction costs.
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
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