FCPT Announces Acquisition of a Portfolio of National Tire and Battery Properties for $11.6 Million

b'Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (\xe2\x80\x9cFCPT\xe2\x80\x9d or the \xe2\x80\x9cCompany\xe2\x80\x9d), is pleased to announce the acquisition of six NTB (National Tire and Battery) branded properties for $11.6 million.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, May 7, 2021
Information
Tags: 
REIT, Restaurant, Bar, Retail, Commercial Building & Real Estate, Construction & Property, Real estate investing, Capitalization rate, Real estate investment trust, NTB
Geotags: 
United States, California, MILL VALLEY, MISSISSIPPI, OHIO, BATTERY
⚠ generated by AI ↴
Organisation: 
FCPT
Summary
Key Points: 
  • b'Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (\xe2\x80\x9cFCPT\xe2\x80\x9d or the \xe2\x80\x9cCompany\xe2\x80\x9d), is pleased to announce the acquisition of six NTB (National Tire and Battery) branded properties for $11.6 million.
  • The properties are located in highly trafficked retail corridors in Mississippi and Ohio and are corporate-operated under triple net leases with approximately three years of weighted average term remaining.
  • The portfolio was priced at a 7.6% capitalization rate, exclusive of transaction costs.\nFCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties.
  • Additional information about FCPT can be found on the website at www.fcpt.com .\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210507005600/en/\n'


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 six NTB (National Tire and Battery) branded properties for $11.6 million. The properties are located in highly trafficked retail corridors in Mississippi and Ohio and are corporate-operated under triple net leases with approximately three years of weighted average term remaining. The portfolio was priced at a 7.6% 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.

Copyright: 
Copyright Business Wire 2021