Four Corners Property Trust acquires six NTB branded properties

Four Corners Property Trust (FCPT) has acquired half a dozen National Tire and Battery (NTB) branded properties in Mississippi and Ohio for a sum of $11.6 million.

The real estate investment trust (REIT) said that the acquired assets are corporate-operated under triple net leases with nearly three years of weighted average term left.

The portfolio was valued at a capitalization rate of 7.6%, exclusive of the costs of the transaction.

Four Corners Property Trust acquires six NTB branded properties. Photo courtesy of Tumisu from Pixabay.

Based in Mill Valley, California, Four Corners Property Trust is engaged mainly in the acquisition and leasing of restaurant assets.