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2025-05-30 20:38
Retail REIT Four Corners Property Trust (NYSE:FCPT) announced on Thursday the acquisition via sale-leaseback of a Christian Brothers Automotive property for $4.3M.
The Illinois-based property is under a long-term lease guaranteed by the corporate entity.
FCPT said the transaction was priced at a cap rate in range with the company's previous transactions.
Separately, the REIT announced the acquisition of an automotive service property leased to a national operator for $5.3M.
The Arkansas-based property is under a corporate long-term triple net lease.
The transaction was priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs.