logo
logo

Fcpt Announces Acquisition Of A Two Property Portfolio For $3.3 Million From Preit

Fcpt Announces Acquisition Of A Two Property Portfolio For $3.3 Million From Preit

08/06/22, 12:23 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgmill valley
Industry
real estate
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.

Company Info

Company
Automotive Service Property
Location
Mill Valley, California, United States
Company info
The automotive service property acquired by FCPT is located in a highly trafficked corridor in Texas and is leased to a national operator under a corporate long-term triple net lease. The transaction was priced at $4.8 million and is in line with previous FCPT transactions.

Related People