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Four Corners Property Trust Acquires Collision Property For $6.1M

Four Corners Property Trust Inc (NYSE:FCPT) has acquired a Caliber Collision property for $6.1 million. The property is located in a…
byShivani Kumaresan
November 18, 2022
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  • Four Corners Property Trust Inc (NYSE:FCPT) has acquired a Caliber Collision property for $6.1 million.
  • The property is located in a strong retail corridor in Tennessee and is corporate operated under a net lease with about seven years of term remaining.
  • The transaction was priced at a 6.7% cap rate, including near term rent increases.
  • FCPT, a real estate investment trust, primarily engages in the ownership and acquisition of high-quality, net-leased restaurant and retail properties.
  • The company held $36.7 million in cash and equivalents as of September 30, 2022.
  • Price Action: FCPT shares closed at $26.74 on Thursday.
 
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