FCPT Announces Acquisition of Two Caliber Collision Properties for $1.0 Million
MILL VALLEY, Calif.--(BUSINESS WIRE)--Nov 3, 2021--
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 two Caliber Collision properties for $1.0 million. The properties are located in highly trafficked corridors in Ohio and are corporate-operated under net leases with a weighted average of 8 years of term remaining. The transaction was priced at a 6.6% going-in cash capitalization rate, exclusive of transaction costs.
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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20211103006166/en/
CONTACT: Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEOGerry Morgan, 415-965-8032
KEYWORD: CALIFORNIA OHIO UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY REIT
SOURCE: Four Corners Property Trust
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PUB: 11/03/2021 04:05 PM/DISC: 11/03/2021 04:06 PM