Press Release: FCPT Announces Acquisition via Sale-Leaseback of Six Christian Brothers Automotive Properties for $24.8 Million

Dow Jones

2024-12-24

FCPT Announces Acquisition via Sale-Leaseback of Six Christian Brothers Automotive Properties for $24.8 Million

MILL VALLEY, Calif.--(BUSINESS WIRE)--December 23, 2024--

Four Corners Property Trust $(FCPT)$, 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/

 
    CONTACT:    Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Patrick Wernig, 415-965-8038

CFO

(END) Dow Jones Newswires

December 23, 2024 17:29 ET (22:29 GMT)

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Additional information about FCPT can be found on the website at www.fcpt.com. \n</p>\n<p>\n     Category: Acquisition \n</p>\n<p>\n     View source version on businesswire.com: https://www.businesswire.com/news/home/20241223073685/en/ \n</p>\n<pre>\n \n    CONTACT:    Four Corners Property Trust: \n</pre>\n<p>\n     Bill Lenehan, 415-965-8031 \n</p>\n<p>\n     CEO \n</p>\n<p>\n     Patrick Wernig, 415-965-8038 \n</p>\n<p>\n     CFO \n</p>\n<pre>\n \n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 23, 2024 17:29 ET (22:29 GMT)\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FCPT","symbol_name":"Four Corners Property Trust, Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2493171172","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2493171172","pubTimestamp":1734992940,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"FCPT Announces Acquisition via Sale-Leaseback of Six Christian Brothers Automotive Properties for $24.8 Million. Four Corners Property Trust , a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties , 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 , Indiana , Florida , and Illinois . 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.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. 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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. \n\n\n     About FCPT \n\n\n     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. \n\n\n     Category: Acquisition \n\n\n     View source version on businesswire.com: https://www.businesswire.com/news/home/20241223073685/en/ \n\n\n \n    CONTACT:    Four Corners Property Trust: \n\n\n     Bill Lenehan, 415-965-8031 \n\n\n     CEO \n\n\n     Patrick Wernig, 415-965-8038 \n\n\n     CFO \n\n\n \n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 23, 2024 17:29 ET (22:29 GMT)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}