Four Corners Property Trust acquired two Arby's properties for $3.4 million, expanding its portfolio of net-leased restaurant and retail real estate. The transaction was priced at a 6.8% cap rate on rent as of the closing date, excluding transaction costs. The properties are situated in strong retail corridors in Indiana and Kentucky and are corporate-operated under long-term, triple net leases with approximately seven years of term remaining.

Transaction Details

The acquisition aligns with Four Corners Property Trust's strategy to grow its portfolio through the purchase of high-quality real estate for lease in the restaurant and retail industries. The specific locations in Indiana and Kentucky offer stable income streams backed by corporate guarantees and remaining lease terms of roughly seven years.

Company Overview

Four Corners Property Trust is headquartered in Mill Valley, CA, and functions as a real estate investment trust. The company focuses on the ownership, acquisition, and leasing of restaurant and retail properties. By targeting assets in strong retail corridors, the firm aims to enhance its portfolio with long-term, net-leased investments.

Four Corners Property Trust, a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, has announced the acquisition of a Springfield Clinic property for $3.5 million. The transaction was priced at a 6.7% cap rate on rent as of the closing date, excluding transaction costs. The property is situated in a strong retail corridor in Illinois and is corporate-operated under a new triple net lease with approximately 15 years of term remaining.

Springfield Clinic is a physician-led medical organization with more than 650 physicians and advanced practitioners serving central Illinois. The acquisition reflects Four Corners Property Trust's continued strategy to grow its portfolio by acquiring high-quality, net-leased real estate assets.

Transaction Details

The key terms of the acquisition are outlined below:

Four Corners Property Trust is headquartered in Mill Valley, CA, and is primarily engaged in the ownership, acquisition, and leasing of restaurant and retail properties.