REAL ESTATE INVESTMENT,BUYING/SELLING

FCPT Announces Acquisition of a Bubba’s 33 Restaurant Property for $3.1 Million

FCPT | December 01, 2022 | Read time : 02:00 min

FCPT Announces Acquisition of a Bubba’s 33 Restaurant Property
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Bubba’s 33 restaurant property for $3.1 million from the transaction previously announced in July 2022. The property is newly constructed and located in a highly trafficked corridor in Texas and is corporate-operated under a triple net lease with approximately 10 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.

This is the last property to be acquired from the 7-property, $17.1 million outparcel portfolio transaction first announced in July 2022. The six other properties closed in a transaction announced in August 2022.

About FCPT
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.

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REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT

Landmark Properties Expands Portfolio into Connecticut with Manulife Investment Management Partnership to Develop Residential Apartments

Landmark Properties and Manulife Investment Management | December 20, 2022

Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, has formed a new build-to-core joint venture with Manulife Investment Management. The partnership will focus on developing and operating residential properties in targeted markets throughout the United States and has pre-identified several potential development opportunities, with the first being The Standard at Four Corners, an 890-bed project at the University of Connecticut located in Storrs. "Landmark is excited to partner with Manulife Investment Management on the development of The Standard at Four Corners, This represents the first investment in our new build-to-core venture with Manulife Investment Management. Landmark continues to attract institutional capital to the student housing space due to our track record of success, vertical integration, and out-performance during challenging economic times." -Landmark President and CEO, Wes Rogers Located at 1717 Storrs Road, The Standard at Four Corners will be ready for occupancy in August 2025 and offers several distinct floorplans ranging from studios to three-bedroom. The design of these units, amenities featured, and the privacy the layouts offer are unique to Storrs and will attract attention from potential residents when weighing options among comparable properties. The property's pedestrian access will make way to both the campus core and downtown Storrs for residents. Manulife Investment Management is proud to partner with Landmark Properties, who we view to be best-in-class in the student housing sector, leveraging their experience across the United States to jointly develop a premier portfolio of assets, We believe the student housing sector represents a compelling investment opportunity underpinned by attractive supply/demand dynamics and strong historical performance,said Edward Dunn, managing director, Infrastructure Investments at Manulife Investment Management. Each apartment at The Standard at Four Corners provides a gourmet-style kitchen with ample cabinet space, quartz countertops and stainless-steel appliances. Every residence is fully furnished, offers hardwood-style flooring, and includes technology related amenities in the common area, high-speed internet and cable. Additionally, residents can access 24-hour study lounges, fitness center and computer lab. The resort-style amenity spaces add extra opportunities for recreation and socialization with a gaming lounge, heated pool, hot tub, and fire pits. For residents with vehicles, a deck offers parking for an additional fee. The development also features 14,500-square-feet of ground-floor retail space. Landmark Construction will serve as general contractor for the duration of the project. According to CollegeSimply, the University of Connecticut is ranked as the best public university in the New England region. With over $10 billion assets under management, Landmark's portfolio includes almost 100 residential communities across the country with approximately 60,000 beds. Landmark currently has 21 student, BTR, and multifamily projects under construction with an estimated value at $3.7 billion, and a significant and growing development pipeline. About Landmark Properties Headquartered in Athens, Ga., with an office in Atlanta, Landmark Properties is a fully integrated real estate firm, specializing in the acquisition, development, and management of high-quality residential communities. With more than $10 billion assets under management, Landmark's portfolio includes nearly 100 residential communities across the country with more than 60,000 beds under management. Additionally, Landmark benefits from an active development pipeline with 21 student and multifamily projects under construction with an estimated value at $3.7 billion. Landmark's mission is to be the leader in development, construction, operations, and investment management of high-quality residential communities, delivering unrivaled service and experience to our residents, partners, and employees. About Manulife Investment Management Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 19 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We're committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. Not all offerings are available in all jurisdictions.

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REAL ESTATE INVESTMENT,REAL ESTATE ADVICE

FCPT Announces Acquisition of a Portfolio of 3 Caliber Collision Properties for $5.4 Million

FCPT | November 30, 2022

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of three Caliber Collision properties for $5.4 million. The properties are located in highly trafficked corridors in Indiana and are corporate-operated under net leases with a weighted average of approximately five years of term remaining. The transaction was priced at a 7.0% cap rate, exclusive of transaction costs. About FCPT FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.

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REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT

Anywhere Real Estate Inc. Named a great place to work® for fifth year in a row

Anywhere Real Estate Inc. | December 19, 2022

Anywhere Real Estate Inc. (NYSE: HOUS), a global leader in residential real estate services (formerly known as Realogy Holdings Corp.), today announced its recognition as a Certified™ Great Place to Work® for the fifth consecutive year. The award is based entirely on current employee feedback with more than 1,600 responses from employees across the enterprise. Overall, 83 percent of employees at Anywhere say it is a great place to work compared to 57 percent of employees at a typical U.S.-based company. "In a year of great transformation for our company, it is especially meaningful that Anywhere continues to be recognized as a Great Place to Work for the fifth year in a row, I am incredibly proud that the direct feedback of our employees aligns with our company's purpose to empower everyone's next move." -Ryan Schneider, Anywhere president and chief executive officer In this year's survey, Anywhere received particularly high average scorings, 85 percent and above, in the categories of credibility, fairness, respect, pride, and camaraderie. The Great Place to Work survey also found that: 90% of Anywhere employees said people care about each other here 91% of Anywhere employees feel people given a lot of responsibility here 91% of Anywhere employees said when you join the company, you are made to feel welcome Being recognized as a Great Place to Work year after year is a testament to our relentless focus on talent at Anywhere, Our people show up each day focused on achieving exceptional results for our business while working to develop their own career journeys, and this recognition belongs to them,said Tanya Reu-Narvaez, Anywhere chief people officer. Great Place to Work® is the global authority on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation. According to Great Place to Work research, employees at Certified workplaces are 93% more likely to look forward to coming to work, and are twice as likely to be paid fairly, earn a fair share of the company's profits and have a fair chance at promotion. Great Place to Work Certification™ isn't something that comes easily – it takes ongoing dedication to the employee experience, It's the only official recognition determined by employees' real-time reports of their company culture. Earning this designation means that Anywhere is one of the best companies to work for in the country,said Sarah Lewis-Kulin, vice president of global recognition at Great Place to Work. As one of the largest full service residential real estate services companies in the U.S., Anywhere is dedicated to creating a culture of innovation, integrity, and inclusion. In June, the company officially completed its corporate rebrand from Realogy to Anywhere, signifying a strategic emphasis on building a more frictionless and digitized home buying and selling experience for any consumer, anywhere. The transformation also represents the company's mission to further move its culture and talent strategy into the future – empowering employees' growth anywhere in their career journey. About Anywhere Real Estate Inc. Anywhere Real Estate Inc. (NYSE: HOUS) is moving the real estate industry to what's next. A leader of integrated residential real estate services in the U.S., Anywhere includes franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture, supporting approximately 1.5 million home transactions in 2021. The diverse Anywhere brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Anywhere fuels the productivity of its approximately 198,900 independent sales agents in the U.S. and approximately 142,500 independent sales agents in 118 other countries and territories, helping them build stronger businesses and best serve today's consumers. Recognized for eleven consecutive years as one of the World's Most Ethical Companies, Anywhere has also been designated a Great Place to Work four years in a row, named one of LinkedIn's 2021 Top Companies in the U.S., and honored on the Forbes list of World's Best Employers 2022. About Great Place to Work Certification™ Great Place to Work® Certification™ is the most definitive "employer-of-choice" recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. Great Place to Work Certification is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place to Work-Certified. About Great Place to Work® Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All™.

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REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT

HILCO REAL ESTATE CLOSES TRANSACTION OF $17+ MILLION COLD STORAGE FACILITY SALE IN TEXAS

Hilco Real Estate | November 24, 2022

Hilco Real Estate, LLC, (HRE) was chosen as part of a competitive process by Alamo Dynamic, LLC, a private equity-backed food producer, to monetize a turnkey, USDA-certified, cold storage facility located in Lubbock, Texas. The property consisted of 224,000± SF across five buildings set on 16.38 sprawling acres. The pandemic took its toll on the company, as Dynamic Foods' main contractual partner, Furr's Fresh Buffet, filed for bankruptcy in spring of 2021. Without this partnership, the facility was only running at about 20% capacity, which led to the ownership's decision to sell the facility and all its associated assets. Due to the property's tertiary location, the existing specialized buildout of the facility, environmental challenges and a tight deadline, the seller was uncertain of the ultimate recovery a sales process could yield. HRE immediately implemented a targeted national marketing campaign that, in just under three months, garnered over 80 direct inquiries from sophisticated buyers (many who were end users), nine tours with well-qualified groups and three viable offers. HRE conducted a multi-phased, competitive offer process in which the ultimate price exceeded $17,000,000, far beyond the initial anticipated sale price. During the due-diligence period, the buyers came across an unknown environmental issue with the potential to delay the closing. Hilco Global institutional knowledge regarding mitigating environmentally challenged properties proved invaluable. The team developed a unique phased closing strategy to accommodate the seller's need for a quick sale and the buyer's desire to begin retrofitting the facility on a specific timeline. The phased closing plan also allowed the seller to responsibly address the ongoing remediation prior to transferring the impacted parcel to the new buyer. "We are thrilled that the sale will allow the buyer to utilize the highly sought-after cold storage component of the facility, and more importantly, provide jobs to the area, many that were lost when the previous operator closed its doors. Simultaneously, our strategic sale process allowed the seller to maximize the property's value, limit time and costs typical in conventional sale processes, and thoughtfully address the environmental obstacles that could have otherwise thwarted the sale." -Chet Evans, a vice president at Hilco Real Estate About Hilco Real Estate: Hilco Real Estate, LLC ("HRE"), a unit of Hilco Global, is headquartered in Northbrook, Illinois. HRE is a national provider of accelerated real estate disposition services for corporations, lenders, servicers, receivers, bankruptcy attorneys, estates, private owners, investment companies as well as local, state, and federal government agencies. Acting as an agent or principal, HRE applies its vast experience to advise and execute strategies, helping both healthy and distressed clients to derive maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.

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