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News

FCPT Announces 2020 Acquisition Volume and Sale-Leaseback of a Chili’s Restaurant Property for $2.9 million

Global banking and finance news 28

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (FCPT or the Company), is pleased to announce the acquisition of a Chilis restaurant property for $2.9 million via a sale-leaseback transaction. The property is located in a strong retail corridor in South Carolina and is occupied under a new triple net lease by a franchisee operator with 20 years of term remaining. The transaction was priced at a 6.5% going-in cash capitalization rate, exclusive of transaction costs.

Including today’s acquisitions, in 2020 FCPT completed real estate acquisitions of 101 properties for a total investment of $222.7 million, exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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. Additional information about FCPT can be found on the website at www.fcpt.com.

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Gerry Morgan, 415-965-8032

CFO

 

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