FCPT Announces Acquisition of a Taco Bell Property for $2.2 Million
Four Corners Property Trust (FCPT) Announces $2.2 Million Acquisition of Taco Bell Property in Oklahoma, Priced at 7.3% Cap Rate
Positive
Acquisition of high-quality, net-leased property enhances FCPT's real estate portfolio
Transaction priced at a 7.3% cap rate on rent, indicating favorable investment return
Property located in a strong retail corridor in Oklahoma, promising potential for steady income
11/08/2023 - 04:05 PM
MILL VALLEY, Calif. --(BUSINESS WIRE)--
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 Taco Bell property for $2.2 million Oklahoma and is franchisee-operated under a triple net lease to K-MAC Enterprises, LLC with approximately five years of term remaining. The transaction was priced at a 7.3% cap rate on rent as of the closing date and exclusive of transaction costs.
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 .
View source version on businesswire.com: https://www.businesswire.com/news/home/20231108579869/en/
Four Corners Property Trust:
Gerry Morgan, 415-965-8032
Source: Four Corners Property Trust
What is the ticker symbol of Four Corners Property Trust?
The ticker symbol of Four Corners Property Trust is FCPT.
Where is the newly acquired Taco Bell property located?
The property is located in a strong retail corridor in Oklahoma.
What was the price of the Taco Bell property acquisition?
The acquisition was priced at $2.2 million.
What is the cap rate for the Taco Bell property acquisition?
The transaction was priced at a 7.3% cap rate on rent as of the closing date.
Four Corners Property Trust Inc
FCPT Rankings
#3304 Ranked by Stock Gains
FCPT Stock Data
Industry
Other Activities Related to Real Estate
Sector
Real Estate and Rental and Leasing
Tags
Finance, Real Estate Investment Trusts, Real Estate and Rental and Leasing, Other Activities Related to Real Estate
Country
US
City
Mill Valley
About FCPT
four corners property trust (nyse:fcpt) is a $2 billion investment grade rated net lease reit focused on restaurant real estate. fcpt was spun-off from darden restaurants, inc. in november 2015 with 418 properties. today, fcpt owns over 500 properties in 44 states with over 20 brands. at fcpt, our strategy continues to be diversifying and scaling our portfolio through acquisitions and sale-leasebacks of quality credit restaurant operators with strong fundamental real estate. for more information, navigate to the following site: www.fcpt.com
