NYSE:FCPTSpecialized REITs
Is Four Corners (FCPT) Quietly Recasting Its Risk Profile With Auto Service Sale-Leasebacks?
Four Corners Property Trust recently acquired a GreatWater 360 Auto Care property in Indiana for US$1,200,000 via a sale-leaseback, secured under a long-term, triple net corporate lease at a cap rate consistent with its prior deals.
This transaction highlights Four Corners’ ongoing move into auto service real estate, broadening its tenant base with a regional operator of around 150 locations across the Midwest and Texas.
We’ll now examine how this latest triple net, sale-leaseback...