FCPT Announces Acquisition of a Caliber Collision Portfolio for $7.2 Million

09/21/2021

Download the PDF version PDF Format (opens in new window)

MILL VALLEY, Calif.--(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 $7.2 million. The properties are located in highly trafficked corridors in New York and are corporate-operated under net leases with a weighted average of seven years of term remaining and annual rent increases of 2%. The transaction was priced at a 6.8% cap rate on rent today, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210921006131/en/

Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO

Gerry Morgan, 415-965-8032
CFO

Source: Four Corners Property Trust

Public link

Please use the above public link if you want to share this noodl on another website.