FCPT Announces Acquisition of a Two Property Portfolio for $3.3 Million from PREIT

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 a Capital One property and a ground lease Chuck E. Cheese property for $3.3 million.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Saturday, August 6, 2022
Information
Tags: 
REIT, Restaurant, Bar, Retail, Commercial Building & Real Estate, Construction & Property, Company, Acquisition, Ownership, Capital One, NYSE, CA, Property management
Geotags: 
MARYLAND, SOUTH CAROLINA, CALIFORNIA, UNITED STATES, NORTH AMERICA
⚠ generated by AI ↴
Organisation: 
FCPT
Stock Symbol: 
NYSE:FCPT
Summary
Key Points: 
  • 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 a Capital One property and a ground lease Chuck E. Cheese property for $3.3 million.
  • The overall transaction was priced at a cap rate in range with previous FCPT transactions.
  • 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.


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 a Capital One property and a ground lease Chuck E. Cheese property for $3.3 million. The properties are located in strong retail corridors in Maryland and South Carolina respectively, and both are occupied under triple net leases and have a current weighted average remaining term of approximately six years. The overall 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.

Copyright: 
Copyright Business Wire 2022