FCPT Announces Sale-Leaseback Of Two Tire Discounters Properties For $5.3M
Portfolio Pulse from Happy Mohamed
Four Corners Property Trust (NYSE:FCPT) has acquired two properties from Tire Discounters for $5.3 million via a sale-leaseback transaction. The properties are located in North Carolina and Virginia and are corporate-operated under long-term, triple net leases. The transaction was priced at a cap rate in range with previous FCPT transactions.
June 30, 2023 | 8:41 pm
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POSITIVE IMPACT
FCPT's acquisition of two properties from Tire Discounters could potentially increase its asset base and generate stable income due to the long-term, triple net leases.
The acquisition of these properties could potentially increase FCPT's asset base and provide a stable income stream due to the long-term, triple net leases. This could positively impact FCPT's stock price in the short term.
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