MILL VALLEY, Calif.--(BUSINESS WIRE)--
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 an Arby’s restaurant property for $1.6 million. The
property is located in North Carolina and is occupied under a triple-net
lease with the corporate operator and approximately 7 years of term
remaining. The transaction was priced at a 6.6% going-in cash
capitalization rate.
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 for use in the restaurant and retail
industries. Additional information about FCPT can be found on the
website at www.fcpt.com.
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Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Gerry Morgan, 415-965-8032
CFO
Source: Four Corners Property Trust