FCPT Acquires Three Bank Properties for USD 5.4m.
MANews-(C)2009-2021
US-based real estate investment trust Four Corners Property Trust (NYSE: FCPT) has acquired three publicly-traded, investment grade bank properties for USD 5.4m, the company said.
The properties are located in highly trafficked corridors in Illinois and are corporate-operated under triple net leases with nine years of term remaining and annual rent increases of 1.5%.
The transaction was priced at a weighted average 6.5% going-in capitalization...
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