MILL VALLEY, Calif.--(BUSINESS WIRE)--
Four Corners Property Trust (NYSE:FCPT), a real estate investment
trust engaged in the ownership of high-quality, net-leased restaurant
properties (“FCPT” or the “Company”), is pleased to announce the
acquisition of two McAlister’s Deli properties for $4.1 million. Both
properties are located in Texas and are occupied under a new triple-net
master lease with 15-year term. The transaction was priced at a going-in
cash cap rate of 6.75%, exclusive of transaction costs. The tenant is
one of the largest McAlister’s Deli franchisees with a strong track
record within the system. The restaurants are above average performers
for the brand and well located in their respective communities.
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 will seek to grow its portfolio by acquiring
additional real estate to lease, on a triple-net basis, for use in the
restaurant and related food services industry. Additional information
about FCPT can be found on the website at http://www.fourcornerspropertytrust.com/.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170127005656/en/
Four Corners Property Trust
Bill Lenehan, 415-965-8031
CEO
Gerry
Morgan, 415-965-8032
CFO
Source: Four Corners Property Trust