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Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a Burger King property for $1.7 million in Virginia. The property is situated in a strong retail corridor and features a corporate long-term, triple net lease with approximately 13 years remaining, priced at a 7.0% cap rate.
This acquisition marks the completion of FCPT’s 2024 real estate acquisitions, totaling 87 properties for a combined investment of $265 million. Notably, $199 million of these acquisitions were completed in the final four months of 2024, demonstrating significant momentum heading into 2025.
Four Corners Property Trust (NYSE:FCPT) ha annunciato l’acquisizione di una proprietà Burger King per 1,7 milioni di dollari in Virginia. Questa proprietà si trova in un forte corridoio commerciale e presenta un contratto di locazione corporate a lungo termine, triple net, con circa 13 anni residui, valutato ad un cap rate del 7,0%.
Questa acquisizione segna il completamento delle acquisizioni immobiliari del 2024 da parte di FCPT, per un totale di 87 proprietà con un investimento complessivo di 265 milioni di dollari. È importante notare che 199 milioni di dollari di queste acquisizioni sono state concluse negli ultimi quattro mesi del 2024, dimostrando un significativo slancio in vista del 2025.
Four Corners Property Trust (NYSE:FCPT) ha anunciado la adquisición de una propiedad de Burger King por 1,7 millones de dólares en Virginia. La propiedad se encuentra en un fuerte corredor comercial y cuenta con un contrato de arrendamiento corporativo a largo plazo, triple neto, con aproximadamente 13 años restantes, valorado a un cap rate del 7,0%.
Esta adquisición marca la finalización de las adquisiciones inmobiliarias de FCPT en 2024, totalizando 87 propiedades con una inversión conjunta de 265 millones de dólares. Es notable que 199 millones de dólares de estas adquisiciones se completaron en los últimos cuatro meses de 2024, demostrando un impulso significativo de cara a 2025.
Four Corners Property Trust (NYSE:FCPT)는 버거킹 건물을 170만 달러에 버지니아에서 인수했다고 발표했습니다. 이 부동산은 강력한 소매 통로에 위치하고 있으며, 약 13년의 잔여 기간이 있는 장기 기업 임대 계약을 맺고 있으며 7.0%의 캡 레이트로 평가되고 있습니다.
이번 인수는 FCPT의 2024년 부동산 인수 완료를 의미하며, 총 87개 부동산에 대해 총 2억6500만 달러를 투자했습니다. 특히 1억9900만 달러의 인수는 2024년 마지막 4개월 동안 완료되어, 2025년으로 향하는 데 중요한 모멘텀을 보여줍니다.
Four Corners Property Trust (NYSE:FCPT) a annoncé l’acquisition d’une propriété Burger King pour 1,7 million de dollars en Virginie. La propriété est située dans un fort couloir commercial et présente un bail corporate à long terme, triple net, avec environ 13 années restantes, évalué à un taux de capitalisation de 7,0%.
Cette acquisition marque l’achèvement des acquisitions immobilières de FCPT pour 2024, totalisant 87 propriétés pour un investissement global de 265 millions de dollars. Il est à noter que 199 millions de dollars de ces acquisitions ont été réalisées au cours des quatre derniers mois de 2024, démontrant un élan significatif à l’approche de 2025.
Four Corners Property Trust (NYSE:FCPT) hat die Akquisition einer Burger King-Immobilie für 1,7 Millionen Dollar in Virginia bekannt gegeben. Die Immobilie befindet sich in einem starken Einzelhandelskoridor und verfügt über einen langfristigen, dreifachen Nettoleasingvertrag mit etwa 13 verbleibenden Jahren, der zu 7,0% Kapitalisierungsrate bewertet ist.
Diese Akquisition markiert den Abschluss der Immobilienakquisitionen von FCPT für 2024, die insgesamt 87 Immobilien für eine Gesamtinvestition von 265 Millionen Dollar umfassen. Bemerkenswert ist, dass 199 Millionen Dollar dieser Akquisitionen in den letzten vier Monaten von 2024 abgeschlossen wurden, was auf einen signifikanten Schwung auf dem Weg ins Jahr 2025 hinweist.
Positive
- Acquired 87 properties in 2024 for $265 million total investment
- Strong acquisition momentum with $199 million in deals in last 4 months of 2024
- Latest Burger King property secured with 13-year triple net lease
- Attractive 7.0% cap rate on the new acquisition
Insights
The acquisition of a Burger King property for $1.7 million at a 7.0% cap rate demonstrates FCPT’s strategic expansion in the QSR sector. The 13-year triple-net lease structure provides stable, long-term cash flows while minimizing operational responsibilities. More notably, FCPT’s total 2024 acquisition volume of $265 million across 87 properties shows remarkable portfolio growth, with $199 million deployed in just the final four months.
The 7.0% cap rate is particularly attractive in the current high-interest-rate environment, offering a solid spread above borrowing costs. The Virginia location in a strong retail corridor suggests careful market selection, while the corporate guarantee on the lease adds another layer of security. The accelerated pace of acquisitions in Q4 2024 indicates strong deal sourcing capabilities and positions FCPT well for continued growth in 2025.
This transaction highlights FCPT’s execution strength in the net-lease retail segment. The Virginia property’s location in a high-traffic retail corridor enhances its long-term value proposition, while the corporate-backed triple-net lease structure effectively transfers operational risks to the tenant. The substantial $265 million deployment in 2024 represents significant portfolio expansion, with the concentrated Q4 activity suggesting favorable market conditions and strong deal pipeline.
For context, triple-net leases typically command lower cap rates due to their reduced landlord responsibilities and predictable income streams. The 7.0% cap rate achieved here represents attractive pricing relative to current market benchmarks, particularly for QSR properties with corporate guarantees. The 13-year remaining lease term also provides meaningful protection against near-term market fluctuations, supporting stable NOI growth.
MILL VALLEY, Calif.–(BUSINESS WIRE)– Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Burger King property for $1.7 million. The property is located in a strong retail corridor in Virginia and under a corporate long-term, triple net lease with approximately 13 years of term remaining. The transaction was priced at a 7.0% cap rate on rent as of the closing date and exclusive of transaction costs.
Including today’s acquisition, FCPT completed real estate acquisitions of 87 properties in 2024 for a total investment of approximately $265 million, exclusive of transaction costs.
“We ended 2024 with our busiest four months of the year, including $199 million of real estate acquisitions since late August,” said CEO Bill Lenehan. “We are excited to carry that momentum into 2025 as we continue to build out our company and investment platform.”
About FCPT
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding FCPT’s intent, belief or expectations, including, but not limited to, statements regarding: operating and financial performance and expectations regarding the making of distributions and the payment of dividends. Words such as “anticipate(s),” “expect(s),” “intend(s),” “plan(s),” “believe(s),” “may,” “will,” “would,” “could,” “should,” “seek(s)” and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made and, except in the normal course of FCPT’s public disclosure obligations, FCPT expressly disclaims any obligation to publicly release any updates or revisions to any forward-looking statements to reflect any change in FCPT’s expectations or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements are based on management’s current expectations and beliefs and FCPT can give no assurance that its expectations or the events described will occur as described. For a further discussion of these and other factors that could cause FCPT’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in FCPT’s most recent annual report on Form 10-K, and other risks described in documents subsequently filed by FCPT from time to time with the Securities and Exchange Commission.
Category: Acquisition
View source version on businesswire.com: https://www.businesswire.com/news/home/20241227289742/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO
Source: Four Corners Property Trust
FAQ
How many properties did FCPT acquire in 2024?
FCPT acquired 87 properties in 2024 for a total investment of approximately $265 million, exclusive of transaction costs.
What was the value of FCPT’s latest Burger King property acquisition?
FCPT acquired the Burger King property for $1.7 million, with a 7.0% cap rate on rent as of the closing date.
What was FCPT’s acquisition volume in the last four months of 2024?
FCPT completed $199 million in real estate acquisitions since late August 2024.
What are the terms of the Burger King property lease acquired by FCPT?
The Burger King property is under a corporate long-term, triple net lease with approximately 13 years of term remaining.
Where is FCPT’s newly acquired Burger King property located?
The Burger King property is located in a strong retail corridor in Virginia.
