Diversified Investment Portfolio Grows to Over $5.1 Billion
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--
STORE
Capital Corporation (NYSE: STOR), an internally managed net-lease
real estate investment trust (REIT) that invests in Single Tenant
Operational Real Estate, today reported strong
acquisition activity for the fourth quarter and full year ended December
31, 2016 investing approximately $1.2 billion in profit center real
estate during 2016, including over $300 million in the fourth quarter.
The Company’s real estate investment portfolio grew from $4.0 billion
representing 1,325 property locations at December 31, 2015, to over
$5.1 billion representing more than 1,650 property locations at December
31, 2016.
“Our strong pace of investment activity in 2016 is a testament to the
value of our long-term real estate net-lease solutions for middle market
companies seeking to grow their businesses, enhance wealth and create
jobs,” said Christopher H. Volk, President and Chief Executive Officer
of STORE Capital. “Our 2016 investment activity was consistent
throughout the year, with an average transaction size approximating $8
million, 30 plus transactions per quarter and about a third of our
investment activity resulting from existing tenant relationships. As we
begin 2017, we are excited as ever about our ability to grow STORE as we
continue to make progress in addressing the large market that we serve.”
About STORE Capital
STORE Capital Corporation is an internally managed net-lease real estate
investment trust, or REIT, that is the leader in the acquisition,
investment and management of Single Tenant Operational Real Estate,
which is its target market and the inspiration for its name. STORE
Capital is one of the largest and fastest growing net-lease REITs and
owns a large, well-diversified portfolio that consists of investments in
over 1,650 property locations, substantially all of which are profit
centers, in 48 states. Additional information about STORE Capital can be
found on its website at www.storecapital.com.
Forward-Looking Statements
Certain statements contained in this press release that are not
historical facts may contain forward-looking statements. Forward-looking
statements can be identified by the use of words such as “estimate,”
“anticipate,” “expect,” “believe,” “intend,” “may,” “will,” “should,”
“seek,” “approximate” or “plan,” or the negative of these words and
phrases or similar words or phrases. Forward-looking statements, by
their nature, involve estimates, projections, goals, forecasts and
assumptions and are subject to risks and uncertainties that could cause
actual results or outcomes to differ materially from those expressed in
the forward-looking statements. For more information on risk factors for
STORE Capital’s business, please refer to the periodic reports the
Company files with the Securities and Exchange Commission from time to
time. These forward-looking statements herein speak only as of the date
of this press release and should not be relied upon as predictions of
future events. STORE Capital expressly disclaims any obligation or
undertaking to update or revise any forward-looking statements contained
herein, to reflect any change in STORE Capital’s expectations with
regard thereto, or any other change in events, conditions or
circumstances on which any such statement is based, except as required
by law.
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Investors and Media:
Financial Profiles, Inc.
Moira
Conlon, 310-622-8220
Tricia Ross, 310-622-8226
STORECapital@finprofiles.com
Source: STORE Capital Corporation