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Four Corners (FCPT) Announces Alliance With Lubert-Adler
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Four Corners Property Trust (FCPT - Free Report) recently announced an alliance with Lubert-Adler Real Estate Funds. The partners will invest up to $150 million in the venture, with Four Corners investing $20 million and the remaining investment from Lubert-Adler.
The venture is aiming to acquire vacant retail real estate and re-tenant the same to credible operators looking to expand their base. The partners are looking to harness their respective strengths in the real estate sector to make the venture a success. While Four Corners has experience in restaurant investing, enjoys access torestaurant real estate deal flow, long-standing tenant relationships and acquisition execution capabilities, Lubert-Adler brings in considerable expertise in retail real estate acquisition and repositioning of properties.
Notably, Four Corners is not obligated to purchase properties from the venture. Further, the company does not expect any impact on its core business nor is the venture likely to have any impact on its credit profile. Also, the investment period for the venture is spread over several years.
Four Corners, which is primarily engaged in the ownership of high-quality net-leased restaurant properties, maintains an investment-grade financial position. While the pandemic has hit the restaurant as well as the retail industry hard, the reopening of economy is boosting hopes and things are now looking better compared with late March, thanks to the recovery in sales.
Moreover, the company has been on an acquisition spree for the past several months, adding properties that cater to the restaurant and retail industries.
Some of the company’s notable acquisitions include a LongHorn Steakhouse property in Florida from Darden Restaurants (DRI - Free Report) for $3.2 million and a BJ's Restaurants’ (BJRI - Free Report) property in Texas for $3.8 million among others.
Shares of this Zacks Rank #3 (Hold) company have appreciated 1.2% over the past year, as against the industry's decline of 3.7%.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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Four Corners (FCPT) Announces Alliance With Lubert-Adler
Four Corners Property Trust (FCPT - Free Report) recently announced an alliance with Lubert-Adler Real Estate Funds. The partners will invest up to $150 million in the venture, with Four Corners investing $20 million and the remaining investment from Lubert-Adler.
The venture is aiming to acquire vacant retail real estate and re-tenant the same to credible operators looking to expand their base. The partners are looking to harness their respective strengths in the real estate sector to make the venture a success. While Four Corners has experience in restaurant investing, enjoys access torestaurant real estate deal flow, long-standing tenant relationships and acquisition execution capabilities, Lubert-Adler brings in considerable expertise in retail real estate acquisition and repositioning of properties.
Notably, Four Corners is not obligated to purchase properties from the venture. Further, the company does not expect any impact on its core business nor is the venture likely to have any impact on its credit profile. Also, the investment period for the venture is spread over several years.
Four Corners, which is primarily engaged in the ownership of high-quality net-leased restaurant properties, maintains an investment-grade financial position. While the pandemic has hit the restaurant as well as the retail industry hard, the reopening of economy is boosting hopes and things are now looking better compared with late March, thanks to the recovery in sales.
Moreover, the company has been on an acquisition spree for the past several months, adding properties that cater to the restaurant and retail industries.
Some of the company’s notable acquisitions include a LongHorn Steakhouse property in Florida from Darden Restaurants (DRI - Free Report) for $3.2 million and a BJ's Restaurants’ (BJRI - Free Report) property in Texas for $3.8 million among others.
Shares of this Zacks Rank #3 (Hold) company have appreciated 1.2% over the past year, as against the industry's decline of 3.7%.
A Key Pick
City Office REIT, Inc.’s (CIO - Free Report) Zacks Consensus Estimate for 2020 funds from operations (FFO) per share has been revised 4.6% upward to $1.14 over the past two months. The company currently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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