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 a McAlister’s Deli property for $2.4 million. The
property is located in Texas and is a follow-on transaction from the
other two McAlister’s Deli properties announced in January, occupied
under the same 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 restaurant
is an above average performer for the brand and well located within a
highly-trafficked location.
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/20170216006346/en/
Four Corners Property Trust
Bill Lenehan, 415-965-8031
CEO
Gerry
Morgan, 415-965-8032
CFO
Source: Four Corners Property Trust