U.S. Markets open in 43 mins

FCPT Announces Acquisition of a Krystal Restaurant Property for $1.4 Million


Four Corners Property Trust (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 corporate-operated Krystal restaurant property for $1.4 million via a sale and leaseback transaction. The property is located in Tennessee and is occupied under a triple-net lease with a fifteen-year term. The transaction was priced at a capitalization rate consistent with our previous acquisitions of similar restaurants.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191010005847/en/