Strategic Acquisition Boosts Portfolio Value
Four Corners Property Trust has made a significant move, acquiring a portfolio of automotive service properties worth $12 million from a national operator through a sale-leaseback agreement. This strategic purchase expands the company’s presence in strong retail corridors across multiple states.
Long-Term Leases Ensure Stability
The acquired sites are secured under long-term, triple net leases, providing a stable source of income for the company. The transaction’s cap rate is in line with previous Four Corners Property Trust deals, demonstrating the company’s commitment to prudent investment decisions.
Confidentiality Requested by Tenant
The tenant has requested that the brand name remain confidential, underscoring the importance of discretion in high-stakes business transactions.
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Four Corners Property Trust’s Recent Acquisitions
The company has been actively expanding its portfolio, with recent purchases including:
- Six Christian Brothers Automotive properties
- A National Veterinary Associates property for $3.5 million
- Nine American Family Care properties
- A MercyOne outpatient clinic property for $2.8 million
- A P.F. Chang’s property for $4.8 million
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