FCPT announced the purchase of three automotive service properties in Missouri for $5.9 million in a sale‑leaseback transaction. The assets are located in high‑traffic retail corridors and are leased under triple‑net agreements with 15‑year remaining terms, giving the company a stable, long‑term income stream.
The deal reflects FCPT’s ongoing strategy to diversify beyond its core restaurant and retail holdings. By adding automotive service properties, the REIT broadens its tenant mix and reduces concentration risk while still targeting essential‑service sectors that tend to be resilient in economic downturns. The transaction’s 7.5% cap rate aligns with regional market expectations and supports FCPT’s target return profile for similar assets.
FCPT’s portfolio now totals 1,273 properties across 48 states, with occupancy and rent‑collection rates consistently above 99%. The new Missouri assets reinforce the company’s geographic footprint and add a new sector to its portfolio, supporting its long‑term growth strategy.
In its most recent earnings, FCPT reported Q3 2025 revenue of $74.15 million, beating consensus estimates of $71.86 million, and earnings per share of $0.45 versus the $0.43 forecast. The revenue beat was driven by strong demand in the automotive service segment and disciplined pricing, while the EPS gain was largely attributable to cost controls and the high‑margin nature of the new leases.
Bill Lenehan, FCPT’s CEO, emphasized the company’s disciplined growth approach, noting that the acquisition “continues to add high‑quality assets at attractive pricing while maintaining our focus on essential‑service tenants.” The move underscores FCPT’s commitment to expanding its portfolio in sectors that offer stable cash flows and low tenant turnover.
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