Four Corners Property Trust (FCPT) announced the acquisition via sale leaseback of three automotive service properties for $5.9M. The properties are located in strong retail corridors in Missouri and are corporate-operated under triple net leases with 15 years of term remaining. The transaction was priced at a 7.5% cap rate on rent as of the closing date and exclusive of transaction costs.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FCPT:
- Four Corners Property Trust acquires five property veterinary clinic portfolio
- Four Corners Property Indemnification Agreements with Directors
- Four Corners Property Trust to acquire SCA Health property for $3.9M
- Four Corners Property Announces New Equity Agreement
- FCPT Earnings Call: Strong Growth and Strategic Insights