FCPT Announces Acquisition of a Tires Plus Portfolio for $12.9 Million
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 eight Tires Plus properties for $12.9 million. The properties are located in strong retail corridors in Georgia and are corporate-operated under net leases. The transaction was priced at a cap rate in range with previous FCPT transactions.
Inclusive of this transaction, FCPT has now invested over $1 billion in high-quality net-leased real estate, diversifying and growing the portfolio since the firm’s first property acquisition in July 2016.
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/20210825005833/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Gerry Morgan, 415-965-8032
CFO
KEYWORDS: United States North America California Georgia
INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property REIT
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