NYSE-listed REIT Four Corners Property Trust (FCPT) disclosed three separate acquisitions this week, offering investors a useful cross-section of how the net-lease REIT is spreading capital across sectors while balancing yield against lease duration and tenant type.
On 21 July, the REIT announced it had acquired a newly constructed Left Lane Auto property in South Carolina for USD3.1 million.
The site is corporate-operated under a triple net lease with approximately 15 years of term remaining, and the deal priced at a 6.9% cap rate on rent as of closing, excluding transaction costs.
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