Four Corners Property Trust Acquires Collision Property For $6.1M

Four Corners Property Trust Inc 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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