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Reported Late Tuesday, Four Corners Property Trust Announces Acquisition Of A Caliber Collision Property For $1.3M

Benzinga · 11/16/2022 00:58

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 Caliber Collision property for $1.3 million. The property is located in a strong retail corridor in Kentucky and is corporate operated under a net lease with approximately seven years of term remaining. The transaction was priced at a 6.7% cap rate including near term rent increases, credits received at closing, and exclusive of transaction costs or a 6.5% cap rate on rent as of the closing date.