MILL VALLEY, Calif.–(BUSINESS WIRE)–4 Corners Property Belief (NYSE: FCPT), an actual property funding belief primarily engaged within the possession and acquisition of high-end restaurant and retail properties high quality web leased property (FCPT or the Firm), is happy to announce the acquisition of a Burger King property for $1.7 million. The property is situated in a serious industrial hall in Virginia and is topic to a long-term triple web company lease with a remaining time period of roughly 13 years. The transaction was priced at a cap charge of seven.0% on leases as of the time limit and excluding transaction prices.
Together with in the present day’s acquisition, FCPT has accomplished actual property acquisitions of 87 properties in 2024 for a complete funding of roughly $265 million, excluding transaction charges.
“We completed 2024 with our busiest 4 months of the 12 months, with $199 million in actual property acquisitions because the finish of August,” stated CEO Invoice Lenehan. We’re excited to construct on this momentum by 2025 as we proceed to develop our enterprise and funding platform.
In regards to the FCPT
FCPT, headquartered in Mill Valley, California, is an actual property funding belief primarily engaged within the possession, acquisition and leasing of restaurant and retail properties. The Firm seeks to develop its portfolio by buying extra actual property for lease, on a web foundation, for the restaurant and retail sectors. Further details about FCPT is out there on the web site at www.fcpt.com.
Warning Concerning Ahead-Trying Statements
This press launch comprises forward-looking statements throughout the that means of the federal securities legal guidelines. Ahead-looking statements embrace all statements that aren’t statements of historic reality and people concerning the intent, beliefs or expectations of FCPT, together with, however not restricted to, statements concerning: operational and monetary efficiency and expectations concerning the fee of distributions and the fee of dividends. . Phrases similar to anticipate(s), count on(s), intend(s), plan(s), imagine(s), might, will, would, might, ought to, search(s) ) and related expressions, or the destructive type of these circumstances are supposed to determine these forward-looking statements. Ahead-looking statements communicate solely as of the date on which such statements are made and, besides within the extraordinary course of FCPT’s public disclosure obligations, FCPT expressly disclaims any obligation to publicly launch any updates or revisions to any forward-looking assertion to replicate any change in FCPT’s expectations or any change in occasions, circumstances or circumstances on which any assertion is predicated. Ahead-looking statements are based mostly on administration’s present expectations and beliefs and FCPT can provide no assurance that its expectations or the occasions described will happen as described. For an additional dialogue of those and different elements that might trigger FCPT’s future outcomes to vary materially from the forward-looking statements, see the part entitled Threat Components in FCPT’s most up-to-date Annual Report on Type 10- Okay, and different dangers described in paperwork later. filed by FCPT infrequently with the Securities and Trade Fee.
Class: Acquisition
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4 Corners Property (NYSE:) Belief:
Invoice Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
Monetary Director
Supply: 4 Corners Actual Property Belief
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