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FCPT Forms $150M JV with Lubert-Adler
Mill Valley-based Four Corners Property Trust (FCPT) formed a strategic venture to invest up to $150 million with Lubert-Adler Real Estate Funds, a Philadelphia-based real estate private equity investor. The venture will focus on acquiring vacant retail real estate that will be principally re-tenanted with credit-worthy brand operators expanding their store count.
Lubert-Adler’s Dean Adler says, “Regrettably, the business interruption caused by COVID-19 to the retail and restaurant sector will cause many operators to close their doors permanently. Our goal is to bring in new tenants that will replace vacant buildings with jobs for those communities.”
FCPT will invest up to $20 million into the venture, with Lubert-Adler contributing the remainder of the capital. FCPT will have the right to purchase properties for its long-term ownership portfolio upon stabilization.
FCPT’s Bill Lenehan says, “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.”
For comments, questions or concerns, please contact Dennis Kaiser
*Pictured FCPT’s Bill Lenehan
- ◦Sale/Acquisition


