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Four Corners Acquires an Olive Garden Property for $4.1M
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Key Takeaways
FCPT acquired a corporate-operated Olive Garden property for $4.1M in North Carolina.
The property under a long-term triple net lease is located in a strong retail corridor.
The cap rate for this transaction is in range with previous FCPT transactions.
Four Corners Property Trust (FCPT - Free Report) recently announced the acquisition of an Olive Garden property for $4.1 million. This acquisition highlights the company’s expansionary and diversification efforts, which will aid future revenue growth.
The property is located in strong retail corridors in North Carolina. The property, under a long-term triple net lease, is corporate-operated. The transaction was priced at a cap rate that was in line with prior FCPT transactions.
FCPT: In a Snapshot
This real estate investment trust (REIT), mainly engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, has a track record of acquisitions.
Last week, FCPT announced the acquisition of the Tires Plus property for $1.7 million and an automotive service property for $5.8 million. In the last week of May 2025, the company acquired the Christian Brothers Automotive property through a sale-leaseback for $4.3 million. For the same period, it also acquired an automotive service property for $5.3 million.
The above purchases fall in line with FCPT’s strategy of structuring a portfolio that will withstand varied economic cycles. However, the company’s expansion may face potential headwinds in an elevated interest-rate environment, which could keep its borrowing costs high.
In the past six months, shares of this Zacks Rank #3 (Hold) company have gained 5.1% compared with the industry's increase of 7.2%.
Image: Bigstock
Four Corners Acquires an Olive Garden Property for $4.1M
Key Takeaways
Four Corners Property Trust (FCPT - Free Report) recently announced the acquisition of an Olive Garden property for $4.1 million. This acquisition highlights the company’s expansionary and diversification efforts, which will aid future revenue growth.
The property is located in strong retail corridors in North Carolina. The property, under a long-term triple net lease, is corporate-operated. The transaction was priced at a cap rate that was in line with prior FCPT transactions.
FCPT: In a Snapshot
This real estate investment trust (REIT), mainly engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, has a track record of acquisitions.
Last week, FCPT announced the acquisition of the Tires Plus property for $1.7 million and an automotive service property for $5.8 million. In the last week of May 2025, the company acquired the Christian Brothers Automotive property through a sale-leaseback for $4.3 million. For the same period, it also acquired an automotive service property for $5.3 million.
The above purchases fall in line with FCPT’s strategy of structuring a portfolio that will withstand varied economic cycles. However, the company’s expansion may face potential headwinds in an elevated interest-rate environment, which could keep its borrowing costs high.
In the past six months, shares of this Zacks Rank #3 (Hold) company have gained 5.1% compared with the industry's increase of 7.2%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader REIT sector are VICI Properties (VICI - Free Report) and Medical Properties Trust (MPW - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for VICI’s 2025 FFO per share has moved one cent northward to $2.34 over the past two months.
The Zacks Consensus Estimate for MPW’s 2025 FFO per share has remained unchanged at 62 cents over the past two months.
Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.