Four Corners Property Trust reports news centered on its REIT portfolio of net-leased restaurant and retail properties. Company updates frequently cover acquisitions of corporate-operated properties leased to restaurant, automotive service, veterinary, tire retail and other retail tenants, with details on lease structure, remaining term and acquisition capitalization rates.
FCPT news also includes quarterly financial and operating results, rent collection and occupancy commentary, investor presentations, and balance-sheet activity such as senior unsecured term loan facilities used to support its property acquisition pipeline and general corporate purposes.
Four Corners Property Trust (FCPT) has acquired a DaVita Kidney Care property in Kansas for $2.2 million. The acquisition, which has a remaining lease term of approximately seven years, is positioned in a high-traffic area. The transaction was executed at a 6.3% capitalization rate, excluding transaction costs. FCPT focuses on owning and acquiring high-quality, net-leased restaurant and retail properties, striving for portfolio growth through strategic real estate investments.
Four Corners Property Trust (NYSE: FCPT) announced a quarterly cash dividend of $0.3325 per share, totaling $1.33 annually. This dividend will be paid on July 15, 2022 to shareholders on record as of June 30, 2022. The company is a real estate investment trust focused on acquiring and leasing restaurant and retail properties, aiming to expand its portfolio in these sectors.
Four Corners Property Trust (NYSE:FCPT) announced the sale of an Olive Garden restaurant property in Florida for $6.3 million, resulting in a gain for the company. The transaction was executed at a 4.5% cap rate on current rent. FCPT plans to reinvest the proceeds through a 1031 like-kind exchange, holding the cash in escrow until suitable properties are identified. However, failure to acquire new properties within the designated timeframe could lead to significant tax liabilities.
Four Corners Property Trust (NYSE: FCPT) has announced a definitive agreement to purchase 11 outparcel properties from PREIT (NYSE: PEI) for $32.5 million, priced at a 6.5% cash cap rate. The acquisition includes 8 single-tenant restaurant properties and 3 retail properties, with a weighted average lease term of approximately 8 years. The company expects to finalize the acquisition in the second and third quarters of 2022, pending closing conditions and approvals. CEO Bill Lenehan expressed enthusiasm about continuing the partnership with PREIT.
Four Corners Property Trust (NYSE:FCPT) has acquired a Heartland Dental property for $3.0 million. Located in a highly trafficked corridor in location value="LS/us.ks"Kansas, this property is secured by a triple net lease with approximately eight years remaining. The transaction reflects a 6.1% capitalization rate, not including transaction costs. This acquisition aligns with FCPT's strategy to grow its portfolio through high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (FCPT) has successfully acquired a portfolio of 12 NAPA Auto Parts properties for $21.1 million. Located in 10 states, these properties are under a triple-net master lease with approximately 5 years of lease term remaining. The acquisition was made at a 6.4% capitalization rate exclusive of transaction costs, indicating a strong investment return potential. This strategic move aligns with FCPT's goal to expand its real estate portfolio in the restaurant and retail sectors.
Four Corners Property Trust (FCPT) has announced the acquisition of an Aspen Dental property for $2.3 million. This property is located in a busy retail corridor in Missouri and is leased to the corporate entity on a net lease basis. The acquisition was completed at a cap rate consistent with previous FCPT transactions, highlighting the company's strategy to expand its portfolio of high-quality restaurant and retail properties.
Four Corners Property Trust (FCPT) has acquired a Caliber Collision property in Wisconsin for $1.9 million. The property is situated in a robust retail corridor and is corporate-operated with approximately nine years left on the lease. The acquisition has a going-in cash capitalization rate of 6.3%, indicating a solid return potential. This purchase is part of FCPT's strategy to expand its net-leased restaurant and retail property portfolio. The transaction is expected to strengthen FCPT’s position in the market.
Four Corners Property Trust (NYSE:FCPT) announced the acquisition of a KC Complete Auto property for $1.6 million, located in a busy corridor in location value="LS/us.mo"Missouri. This property is secured under a triple net lease with approximately eight years remaining on the term. The acquisition was executed at a 6.9% capitalization rate, excluding transaction costs. FCPT continues to expand its portfolio focused on high-quality restaurant and retail properties, reinforcing its strategy in the net-lease sector.
Four Corners Property Trust (NYSE:FCPT) has acquired a NextCare Primary Care property for $1.8 million. Located in a strong retail corridor in Arizona, the property features a corporate-operated net lease with approximately 7 years remaining on the lease term. The acquisition is priced at a 6.4% going-in cash capitalization rate, excluding transaction costs. This strategic acquisition enhances FCPT's portfolio of high-quality, net-leased restaurant and retail properties.