FCPT Announces Acquisition via Sale-Leaseback of Six Christian Brothers Automotive Properties for $24.8 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 via sale-leaseback of six Christian Brothers Automotive properties for $24.8 million. The properties are located across Georgia (2), Indiana (2), Florida (1), and Illinois (1). The sites are in strong retail corridors with high traffic and attractive demographics. The properties are each under a long-term lease guaranteed by the corporate entity. The transaction was priced at a cap rate in range with previous FCPT transactions.
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.
Category: Acquisition
View source version on businesswire.com: https://www.businesswire.com/news/home/20241223073685/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO
KEYWORDS: California United States North America
INDUSTRY KEYWORDS: Retail Automotive General Automotive Commercial Building & Real Estate Specialty Construction & Property REIT
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