“`html
Four Corners Property Trust (FCPT) has acquired a portfolio of automotive service properties from VIVE Collision for $4.7 million through a sale-leaseback transaction. The properties, located in strong retail corridors in Maine and Vermont, are leased under long-term, triple net agreements with approximately 20 years remaining, aligning with FCPT’s strategy of portfolio diversification.
In addition to this acquisition, FCPT recently purchased an Olive Garden property for $4.1 million and a Tires Plus property for $1.7 million, demonstrating a focused effort on expanding its real estate portfolio despite potential challenges from high borrowing costs due to an elevated interest-rate environment.
FCPT’s stock has gained 3.2% over the past six months, compared to a 5.4% increase within the industry. The company’s recent transactions are in line with its development strategy aimed at resilience through varying economic cycles.
“`
