FCPT Announces Acquisition of Two Caliber Collisions for $3.8 million
MILL VALLEY, Calif.–(BUSINESS WIRE)–
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of two Caliber Collision properties for $3.8 million. The properties are located in dense retail corridors in Colorado and Oklahoma. Both properties are corporate-operated under triple net leases with a weighted average of 8.0 years of term remaining. The transaction was priced at a 6.5% going-in cash capitalization rate, exclusive of transaction costs.
About FCPT
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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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Bill Lenehan, 415-965-8031
CEO
Gerry Morgan, 415-965-8032
CFO
KEYWORDS: California United States North America
INDUSTRY KEYWORDS: Residential Building & Real Estate Commercial Building & Real Estate Construction & Property REIT
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