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”), closed on the purchase of two
corporate-operated Chili’s restaurants through a sale-leaseback
transaction with certain subsidiaries of Brinker International, Inc.
(NYSE: EAT) for a purchase price of $5.9 million on initial annual cash
rent of approximately $372,000. These properties are located in Florida
and Texas, and were part of the transaction originally announced on
August 1, 2018. Including the 46 properties acquired on August 8, 2018,
the previously announced transaction is now complete, with a total size
of 48 properties for $155.7 million on initial annual cash rent of
approximately $9.9 million.
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 related food services industry. Additional information
about FCPT can be found on the website at http://www.fcpt.com/.
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Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
or
Gerry
Morgan, 415-965-8032
CFO
Source: Four Corners Property Trust