LAKE COMO, N.J.--(BUSINESS WIRE)--Four Springs Capital Trust (“FSCT” or the “Company) announced that it originated three sale-leaseback industrial properties in two separate transactions for a combined $18.0 million. The transactions add over 260,000 square feet of distribution space to FSCT’s growing industrial portfolio.
The properties operate as core distribution facilities for Hartford Distributors Inc., Connecticut’s leading Anheuser-Busch wholesaler and Continental Café, LLC, Southeast Michigan’s top food service management company.
“We are excited to partner with Hartford Distributors and Continental Café on the sale-leaseback of their distribution facilities,” said Jared Morgan, SVP, Head of Acquisitions at Four Springs Capital Trust. “The transactions are representative of our focus on partnering with best-in-class operators in key growth markets.”
FSCT’s portfolio now contains 53 properties, which are leased to 25 tenants, located in 23 states.
Coby Johnson, President and COO added, “The sale-leaseback transactions allowed Four Springs to acquire assets in dense in-fill locations next to core distribution routes. The properties further enhance FSCT’s diverse portfolio and expand our growing roster of e-commerce resistant tenants.”
About Four Springs Capital Trust:
Four Springs Capital Trust is a private real estate investment trust focused on acquiring a diversified portfolio of retail, industrial/warehouse and healthcare properties net leased to investment grade and other creditworthy tenants under long-term leases. For more information about this announcement, please contact Jared Morgan, SVP, Head of Acquisitions at 732-749-7003 or firstname.lastname@example.org.