Four Corners Property Trust (FCPT) has formed a strategic venture to invest up to $150 million with Lubert-Adler Real Estate Funds.
The venture will focus on acquiring vacant retail real estate that will be principally re-tenanted with creditworthy brand operators expanding their store count.
Bill Lenehan, CEO of FCPT, said, “Organizing appropriate capital to purchase well-located but vacant restaurant properties has been on our mind for some time. This venture allows us to apply our core sector expertise to high-return opportunities prudently and efficiently relative to our shareholders’ capital and low risk tolerance. This venture has the potential to lead to a future pipeline for our core business at attractive economics. Most importantly, however, by keeping retail areas occupied and vibrant, we will be aiding the surrounding communities in their recovery from the economic impact of COVID-19. Lubert-Adler has significant access to acquisition opportunities and
