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FCPT Acquires A Portfolio Of Automotive Service Properties From A National Operator For $12M Via Sale-Leaseback

Benzinga ·  Dec 25 02:31

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 portfolio of automotive service properties for $12 million from a national operator via sale-leaseback. The properties are located in strong retail corridors across multiple states. The sites are under long-term, triple net leases. The transaction was priced at a cap rate in range with previous FCPT transactions. Our tenant has requested confidentiality around disclosure of the brand name.

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